Ahead of Akshaya Tritiya, all-time high gold prices experience sudden dip in Hyderabad

The auspicious day is traditionally considered an ideal time to purchase gold and is expected to see a surge in demand for the precious metal.

Hyderabad: In a surprising turn of events, the glittering prices of gold have cooled down ahead of Akshaya Tritiya in Hyderabad. According to market reports, the 24 carat gold per 10 gram on Saturday was priced at Rs 61,040, experiencing a considerable drop of Rs 760 from Friday.

The 22 carat gold, on the other hand, retailed at Rs 55,950, plummeting Rs 700 from the previous day’s prices. This sudden decline in gold prices comes as a surprise to many, especially after the precious metal reached an all-time high on Friday.

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Some sources believe that this dip in prices may be attributed to the recent strengthening of the Indian rupee against the US dollar, coupled with the ongoing global economic uncertainty. However, others speculate that it may simply be a temporary market correction, with prices expected to climb back up in the coming days.

Despite this recent drop, experts predict that gold prices in the country are expected to remain high on Akshaya Tritiya, which is set to fall on April 22. The auspicious day is traditionally considered an ideal time to purchase gold and is expected to see a surge in demand for the precious metal.