Hyderabad: Gold rates at lifetime high

Hyderabad: Gold rates in Hyderabad have reached almost historic high due to expectations of interest rate cut by the Federal Reserve early next year. On October 31, the price of gold of 10 grams of 24 kiloton rose by more than one percent from Rs 62.730. Gold prices in Hyderabad crossed the 63,000 mark Currently, gold prices in Hyderabad are Rs 58.200 per 10 grams of 22 kg gold and Rs 63.490 per 10 grams of 24 kg gold. The all-time high gold prices in the city were Rs 58,850 and Rs 64,200 per 10 grams of 22 and 24 kg respectively. Besides, gold prices in the international market have also reached almost historical high levels. due to the following reasons The recent rise in gold prices in Hyderabad and other parts of the world can be attributed to various factors. Chief among these is the expectation of interest rate cuts by the Federal Reserve, which will result in a decline in the dollar and US Treasury bond yields. The decline in interest rates is expected to begin in March next year, a measure of which will reduce annual inflation in the United States. Due to this expectation, the dollar index reached its lowest level in almost five months, due to which investors’ inclination towards gold increased. As gold prices rose in Hyderabad and other cities in India, demand for the yellow metal fell in the international market. The future trend of gold prices largely depends on several factors, including the decision of the Federal Reserve and the geopolitical situation in the Middle East region.