24k gold price soars to all-time high of Rs 60,000 in Hyderabad

On Tuesday, gold enthusiasts were taken aback when the price of 24 karat gold hit the staggering mark of Rs 60,000, while its 22 karat counterpart was being sold at Rs 55,000

Hyderabad: The glittering price of 24 karat gold soared to an all-time high of Rs 60,000 per 10 grams in Hyderabad.

On Tuesday, gold enthusiasts were taken aback when the price of 24 karat gold hit the staggering mark of Rs 60,000, while its 22 karat counterpart was being sold at Rs 55,000. Experts in the industry attribute the rise in gold prices to a combination of factors, including the US banking crisis and the escalating conflict in Ukraine.

---

The US banking crisis has left investors jittery and looking for a safe haven for their money. As a result, many are turning to gold as a reliable investment option, it is said. The ongoing crisis in Ukraine has also added to the uncertainty, with investors seeking refuge in the precious metal.

Industry experts are predicting that the price of gold is likely to remain high in the coming months.