19 June, Posted at 10:16 AM
Hyderabad, June 19: Gold and silver prices registered a significant decline in the bullion market on Thursday, bringing relief to consumers and jewellery buyers after months of record-high rates.
According to market data, the price of 24-carat gold in Hyderabad fell by ₹3,100 per 10 grams to ₹1,49,500. Similarly, the price of silver declined sharply by ₹8,600 per kilogram, settling at ₹2,69,900.
The decline comes amid easing global tensions following the reported peace agreement between the United States and Iran. Precious metal prices had surged in recent months due to geopolitical uncertainties and rising crude oil prices triggered by conflicts in West Asia.
Gold, which remains one of the most preferred investment and jewellery assets among Indians, had witnessed a substantial rise over the past year. The sharp increase in prices had dampened consumer demand, particularly in the jewellery segment. However, the latest correction is expected to encourage buyers, especially with the festive and wedding seasons approaching.
Latest Gold and Silver Rates
Hyderabad
24-carat gold (10 grams): ₹1,49,500
22-carat gold (10 grams): ₹1,37,400
Silver (1 kg): ₹2,69,900
Vijayawada and Visakhapatnam
24-carat gold (10 grams): ₹1,49,500
22-carat gold (10 grams): ₹1,37,400
Silver (1 kg): ₹2,69,900
Bullion traders said international developments, currency movements, and crude oil prices will continue to influence precious metal rates in the coming weeks. Analysts believe gold may remain volatile as investors closely monitor global economic and geopolitical developments.
The latest fall in prices is being viewed as a positive opportunity for consumers planning to purchase gold jewellery or invest in precious metals.
Mohammed Naseer Giyas is a multi-media and bilingual journalist with over 20 years of experience across print, digital, and television media. Founder of Raftaar-e-Deccan, he is an alumnus of IVLP, Thomson Reuters Foundation, and ICFJ, and has worked with leading English and Urdu news organisations.
