Gold dips significantly in Hyderabad over weekend

The price of 22-carat gold dropped by Rs 1,900 per 10 gm, while 24-carat saw a decrease of Rs 2,080 per 10 gm. As a result, the current prices stand at Rs 65,700 for 22-carat gold and Rs 71,670 for 24-carat.

Hyderabad: Gold prices in Hyderabad, which have been on a high for a while now, registered a drop over the weekend. A significant decline in rates was recorded on Saturday and the same continued on Sunday too.

The price of 22-carat gold dropped by Rs 1,900 per 10 gm, while 24-carat saw a decrease of Rs 2,080 per 10 gm. As a result, the current prices stand at Rs 65,700 for 22-carat gold and Rs 71,670 for 24-carat.

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This decline marks a notable shift from the highs observed on June 7, where the rates for 22-carat and 24- carat gold had reached Rs 67,600 and Rs 73,470 per 10 gm, respectively.

The current rates reflect a 1.21 per cent decrease since the start of June. The primary reason for the fluctuations in prices of the precious yellow metal is being attributed to China’s recent actions in the gold market.