Gold and silver prices have surged once again in Hyderabad. On Thursday, the price of 24-carat gold rose by ₹2,290, reaching ₹1,56,490 for 10 grams. Meanwhile, 22-carat gold increased by ₹2,100, settling at ₹1,43,450. Silver prices have also followed this upward trend, with a kilogram now costing ₹2,70,000 after a hike of ₹10,000.
The start of the wedding season in India from February 18 has seen these price rises, causing concern among buyers. Many are uncertain about whether prices will continue to rise or fall, leading to confusion in the market.
International developments are influencing these price changes. Economic and political shifts globally are impacting the value of precious metals like gold and silver. The possibility of a war between America and Iraq is adding instability to international markets.
Experts suggest that factors such as changes in interest rates by the U.S. Federal Reserve, fluctuations in the dollar’s value, geopolitical tensions, and variations in real interest rates are contributing to these price movements. A conflict between the U.S. and Iraq could further affect the prices of gold and silver, they warn.
