Gold Prices Plummet in Hyderabad: Is it the Right Time to Buy?

• Gold prices in Hyderabad have seen a significant drop for the second consecutive day, bringing relief to buyers.
• 24-carat gold fell by Rs. 8,620 per 10 grams, now priced at approximately Rs. 1,60,580.
• 22-carat gold decreased by Rs. 7,900 per 10 grams, currently around Rs. 1,47,200.
• The decline is attributed to a strengthening US dollar after the Federal Reserve Chairman nomination and a drop in international spot gold prices.
• Expectations of a potential import duty reduction in the upcoming Union Budget 2026 also contributed to selling pressure.

Why It Matters: Hyderabad gold prices have sharply declined, driven by global factors and budget expectations, offering potential buying opportunities.