Gold and silver prices dip in Hyderabad after record highs

After a continuous upward trend that lasted for 10 days, with gold prices surpassing Rs 72,500 per 10 grams for 24-carat purity, the prices saw a notable drop of Rs 1,150.

Hyderabad: Gold and silver prices in Hyderabad experienced a slight dip on Tuesday following a significant surge in the last few days.

After a continuous upward trend that lasted for 10 days, with gold prices surpassing Rs 72,500 per 10 grams for 24-carat purity, the prices saw a notable drop of Rs 1,150.

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On April 12, the gold rate stood at Rs 73,310, peaking at a record high of Rs 74,340, before settling at Rs 72,160 per 10 grams for 24-carat gold on Tuesday.

Similarly, silver prices also witnessed a decline after a period of surge. The prices saw a 17-day streak of increases, starting from April 6 when silver per kilogram was priced at Rs 87,000 and reaching a peak of Rs 90,500 on April 16. However, on Tuesday, the silver price settled at Rs 86,500, marking a downward trend.

The fluctuations in gold and silver prices in India, including Hyderabad, are influenced by various factors, notably the value of the rupee against the dollar and global demand for precious metals.