Gold Rates Today Crash Again: Not Chennai, But Gold Prices Fall In Hyderabad; 24K, 22K, 18K Gold On Feb-11

Gold rates in India dropped significantly on February 11, after pausing its gaining spree yesterday. However, the movement in gold prices was different across cities. For instance, gold rates in Chennai which had fallen yesterday, were trading higher on Wednesday. But compared to Chennai, gold rates in Hyderabad took a massive hit today after staying flat in the previous day.

The performance comes despite positive global cues. At MCX, gold prices climbed nearly 1% and traded above Rs 1.58 lakh mark. While spot gold rallied above $5,040 per ounce to reach almost at 2-week high.

Gold Rates In India:

Gold Rates In Hyderabad:

24 carat gold prices in Hyderabad plunged by Rs 270 to Rs 1,58,510 per 10 grams, but dropped the most by Rs 2,700 to Rs 15,85,100 per 100 grams. Also, 8 grams gold price slipped by Rs 216 to Rs 1,26,808, and 1 gram edged lower by Rs 27 to Rs 15,851.

Meanwhile, 22 carat gold price dipped by Rs 2,500 to Rs 14,53,000 per 100 grams, followed by Rs 250 decline in 10 grams to Rs 1,45,300. Additionally, 8 grams gold price dived by Rs 200 to Rs 1,16,240 and 1 gram gold inched down by Rs 25 to Rs 14,530.

Under 18 carat, gold price tumbled by Rs 200 to Rs 1,18,890 per 10 grams, but plummeted by a whopping Rs 2,000 to Rs 11,88,900 per 100 grams. Further, 8 grams gold price slipped by Rs 160 to Rs 95,112 per 8 grams and 1 gram edged lower by Rs 20 to Rs 11,889.

Gold in Hyderabad underperformed gold in Chennai whose prices are up by Rs 10 to Rs 2,200 across grams.

Gold Rates In India Prediction:

According to Ponmudi R, CEO of Enrich Money, following are gold prices outlook in global and Indian market:

Spot Gold Price Outlook:

COMEX Gold is trading within the $4,900-$5,100 band after correcting sharply from highs above $5,500-$5,600. The broader uptrend remains intact, with the recent pullback appearing as healthy profit booking rather than structural damage. Prices continue to hold above major moving averages, suggesting the corrective phase is maturing.

Strong buying interest is visible in the $4,500-$4,700 support zone. Stability and acceptance above $5,100 would open the path toward $5,200-$5,300, eventually paving the way for a potential retest of record highs.

MCX Gold Price Outlook

MCX Gold futures are trading near Rs1,57,800 after consolidating from all-time highs around Rs1,80,000-Rs1,81,000. While short-term consolidation persists, the long-term bullish framework remains intact.

The Rs1,45,000-Rs1,50,000 band continues to act as a strong accumulation zone. Sustained holding above this base, followed by a breakout above Rs1,60,000, could trigger renewed upside toward Rs1,65,000-Rs1,75,000. Medium-term outlook remains positive, though volatility may persist.

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