Gold Prices Hit New Record In Hyderabad, Sept 13: 24K/100 Grams Gold Prices Gain Rs 13,000, Silver Up 3,500

Amid expectations for a more aggressive policy easing by the Federal Reserve, gold prices in Hyderabad reached a fresh record high on Friday. 22-karat gold costs Rs 6,825 per gramme in Hyderabad, whereas 24-karat gold costs Rs 7,445 per gramme. 22k of 10 grams of gold is marketed in Hyderabad at Rs 68,250 today, up from Rs 67,050 yesterday-a jump of Rs 1,200. In contrast, 22k of 100 grams of yellow metal is priced in Hyderabad at Rs 6,82,500 on Friday, up from Rs 6,70,500 on Thursday-a spike of Rs 12,000 in value.

The price of 24k of 10 grams of gold in Hyderabad was priced at Rs 74,450 on Friday which was Rs 73,150 on Thursday representing a price hike of Rs 1,300. Whereas 24k of 100 grams of gold in Hyderabad is priced at Rs 7,44,500 in Hyderabad today which was Rs 7,31,500 yesterday representing a price hike of Rs 13,000.

18k of 10 grams of gold costs Rs 55,840 in Hyderabad today compared to Rs 54,860 yesterday, indicating a 980 rise in the price in the city. Similarly, 18k of 100 grams of gold costs Rs 5,58,400 in Hyderabad today compared to Rs 5,48,600 yesterday, indicating a 9,800 rise in price in the city.

Silver Price In Hyderabad Today

Silver currently costs Rs 95 per gramme and Rs 95,000 per kilogramme in Hyderabad. Due to geopolitical concerns arising from the prolonged Russia-Ukraine conflict and the ongoing Middle East conflicts, the price of 100 grammes of silver increased by Rs 350 today to Rs 9,500 from Rs 9,150 yesterday whereas 1kg of silver is priced at Rs 95,000 in Hyderabad on Friday which was Rs 91,500 on Thursday representing a jump in price by Rs 3,500.

Gold Price Prediction Today

"Markets are currently pricing in an 73% chance of a 25-basis-point U.S. rate cut at the Fed's Sept. 17-18 meeting, and a 27% chance of a 50-bps cut, the CME Fed-Watch tool showed. Even though 50 bps rate cut expectation fell, market participants are cheering the possibility of a first cut of 25bps by the Fed. ECB cut rates by 60bps to 3.65%, deposit rates were also cut by 25bps. Focus today will be on Michigan consumer sentiment data. Gold on domestic front is expected to trade within a range of Rs 72,500 - 73,500," said the research analysts of Motilal Oswal.

MCX Gold Outlook Today

"Technically, the domestic yellow metal MCX (October Contract) gold observed strong buying and closed with formation of bullish kind of candle on daily chart suggesting positive bias may continue. On the higher side the resistance at 73200/73500-74100 levels. On the downside, the support for the MCX Gold is seen at 72350/71950/71550 levels. Technically the short-term trend on GOLD is likely to remain consolidation with positive bias and traders are advised to trade with strict stoploss ahead of Fed meeting in the upcoming week," said the research analysts of Way2Wealth Brokers Private Limited.