Gold Price Drops In Hyderabad & Chennai Today, 25th March: 18K, 22K & 24K Prices Updated; Silver Flat

Tuesday, March 25th, saw an abrupt drop in domestic gold prices amid a strong dollar and rising US Treasury yields. Gold rates are predicted to be volatile in the days ahead due to hawkish remarks made by Fed officials and the fact that everyone is watching a plethora of US economic data to assess the health of the economy and obtain clues about the outlook of interest rates. Amid predictions of U.S. rate cuts and demand for safe haven assets, gold remained stable at $3,020 on the global market.

Gold/Silver Price In Chennai & Hyderabad Today

Today, 24 carat gold costs Rs 8,929 per gramme, 22 carat gold costs Rs 8,185 per gramme, and 18 carat gold costs Rs 6,697 per gramme in Hyderabad and Chennai. While 22k of 100 grams of gold will cost Rs 8,18,500 in the cities today compared to Rs 8,21,500 yesterday, demonstrating a price drop of Rs 3,000, the prices of 22k of 10 grams of gold in Hyderabad and Chennai on Tuesday reached Rs 81,850 compared to Rs 82,150 on Monday, corresponding to a price drop of Rs 300.

In Hyderabad and Chennai, the price of 24k of 10 grams of gold dropped by Rs 330 to Rs 89,290 on Tuesday from Rs 89,620 on Monday. In the same way, the price of 24k of 100 grams of gold dropped by Rs 3,300 to Rs 8,92,900 today from Rs 8,96,200 yesterday.

While 18k of 100 gms of gold would cost Rs 6,69,700 in the cities today compared to Rs 6,72,200 yesterday, marking a price savings of Rs 2,500, 18k of 10 grams of gold prices in Hyderabad and Chennai reached Rs 66,970 on Tuesday compared to Rs 67,220 on Monday, showing a price drop of Rs 250.

Following yesterday's 0.01% drop in spot silver prices, the price of silver in Hyderabad and Chennai was unchanged today at Rs 110 per gramme and Rs 1,10,000 per kilogramme.

Spot Gold Outlook Today

"Spot gold is likely to correct back towards $3000 level as long as it stays below $3035 level. Only break below $3000 level prices may slip further towards $2980/$2960 levels. MCX Gold April is expected to dip towards ₹87,000 level as long as it stays below ₹87,900 level. A break below ₹87,000 level prices may correct further towards ₹86,700/ ₹86,500 level," said the research analysts of ICICI Direct Research.

MCX Gold Outlook Today

"Technically, gold saw a third consecutive day of selling on the daily chart. However, it remains in an uptrend, with RSI, moving averages, and the Supertrend showing momentum. It is approaching a strong support area at 86521. Traders are advised to stay on the sidelines until any strength is witnessed on the daily chart or until a breakdown below the crucial support zone. Support is placed at 86860/86521, with resistance at 88450/89792," commented Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Prediction Today

"Gold and silver prices are trading mix today on the international bourses. We expect precious metals prices on Indian bourses to trade range-bound to slightly lower for the day, as gold prices are steady - following a three-day run of losses - with the market digesting President Donald Trump's latest tariff threats," as per Nirmal Bang Securities.

"Gold is expected to correct further amid strong dollar and surge in US treasury yields. Dollar and Yields are moving up on hawkish comments from Fed officials and as data showed US business activity picked up in March. Further, prices may slip on reports that US President Donald Trump's tariff plan is expected to be more targeted than previously thought, increasing hopes that tariffs set to take on 2nd April may be softer. Meanwhile, all eyes will be on slew of economic data from US to gauge economic health and get cues on interest rate trajectory," ICICI Direct Research stated in a report.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.