Gold Prices Plummet in Hyderabad: Big Relief for Buyers as Rates Fall Sharply

• Gold prices in Hyderabad witnessed a significant fall on February 2, with 1 gram of gold decreasing by approximately Rs. 741.
• The price of 10 grams of 24 carat gold dropped by Rs. 7,410, settling at Rs. 1,53,317.
• 10 grams of 22 carat gold, used for jewelry, saw a decrease of Rs. 6,800, now priced at Rs. 1,40,040.
• The sharp decline is attributed to developments in the international market, a strengthening US dollar, rising bond yields, and decreased domestic demand.
• Experts suggest this is a good opportunity for investment, but buyers should consider 3% GST, making charges, and choose hallmarked gold.

Why It Matters: Hyderabad gold prices have fallen sharply, offering a good opportunity for buyers and investors.