Gold Prices Plummet in Hyderabad: Significant Drop Offers Relief to Buyers

• Gold prices in Hyderabad saw a sharp decline on Friday, marking the biggest single-day fall in seven days.
• 22-carat gold (10 grams) dropped by Rs. 600-800, reaching Rs. 1,42,800, while 24-carat gold (10 grams) fell by Rs. 700-900 to Rs. 1,55,780.
• The strengthening US dollar, US Federal Reserve decisions, and profit-taking by investors are cited as key reasons for the fall.
• Silver prices also decreased, with one kilogram falling by Rs. 20,000 to Rs. 2,80,000 in Hyderabad.
• Analysts suggest this dip could be a good opportunity for long-term investors and jewelry buyers, though prices may rise with global uncertainty.