Gold Rates In Hyderabad Collapses Up To Rs 8,200 Alone; 24K, 22K, 18K Gold Prices Today; Silver Rates Fall Too

Gold rates in India have taken a massive setback on April 7, amidst weak global cues. 24 carat gold price dropped by Rs 8,200 at maximum, while 1Kg silver price plunged after two consecutive days pause. The precious metals have lost their shine as safe haven as US dollar continues to rise above 100, on fear of rate hikes and inflationary concerns. The ongoing Middle East war continues to drive the global market.

Gold Rates In Hyderabad:

24 carat gold price in the city plunged by Rs 8,200 to Rs 14,98,400 per 100 grams, while 10 grams gold is down by Rs 820 to Rs 1,49,840. Also, 8 grams gold is down by Rs 656 to Rs 1,19,872 and 1 gram gold is lower by Rs 82 to Rs 14,984.

Further, the 22 carat gold is available at Rs 13,73,500 per 100 grams, down by Rs 7,500 from the previous day. Here, 10 grams gold plunged by Rs 750 to Rs 1,37,350 and 8 gram gold tumbled by Rs 600 to Rs 1,09,880 and 1 gram gold dipped by Rs 75 to Rs 13,735.

Under the 18 carat, gold price slipped by Rs 610 to Rs 1,12,380 per 10 grams and 100 grams gold is down by Rs 6,100 to Rs 11,23,800. Furthermore, 8 grams gold dipped by Rs 488 to Rs 89,904 and 1 gram gold is lower by Rs 61 to Rs 11,238.

Silver Rates In Hyderabad:

Silver rate in Hyderabad dropped by Rs 5,000 to Rs 2.55 lakh per 1Kg, while 100 grams and 10 grams silver is down by Rs 500 and Rs 50 to Rs 25,500 and Rs 2,550 respectively. Additionally, 8 grams silver is down by Rs 40 to Rs 2,040 and 1 gram silver is lower by Rs 5 to Rs 255.

What Is Impacting Gold & Silver Prices Today?

As per Gaurav Garg, research analyst at Lemonn markets desk, in today's commodity market, gold is trading at approximately Rs1,39,028 per 10 grams ($4652.50/oz), showing a slight decline of 0.09%, while silver has dropped to around Rs2,15,318 per kg ($72.06/oz), down 0.83%. The recent movements in precious metals are largely influenced by rising crude oil prices, which surged 3.02% to $115.81 per barrel (Rs10,764), driven by geopolitical tensions, particularly in the Middle East.

These factors have created a risk-off sentiment among investors, leading to cautious trading in gold and silver, even as they remain range-bound with a slight upward bias anticipated.

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