Gold prices surge in Hyderabad amid global uncertainty, geopolitical tensions
Gold prices in Hyderabad rose sharply on Wednesday as investors moved towards safer assets amid geopolitical tensions and uncertainty in global markets. Silver prices saw a slight decline, while analysts said global developments and inflation concerns may influence further price movements.
By Sai Prakash Banoth
Hyderabad: Gold prices in Hyderabad witnessed a sharp increase on Wednesday as investors turned to safe-haven assets amid rising geopolitical tensions and uncertainty in global markets. Silver prices, however, registered a marginal decline in the local market.
According to market trends, concerns over the evolving situation between the United States and Iran have pushed investors towards bullion investments, contributing to the rise in precious metal prices.
In Hyderabad, 24-carat gold was priced at Rs 1,58,290 per 10 grams on Wednesday, up from Rs 1,55,190 recorded on Tuesday. Meanwhile, 22-carat gold stood at Rs 1,45,100 per 10 grams. Silver was priced at Rs 2,900 per 10 grams, slightly lower than Tuesday’s Rs 2,950.
Market experts said global uncertainty continues to play a major role in determining precious metal prices. Reports surrounding tensions involving the US and Iran have increased concerns over possible escalation in the region, strengthening demand for gold as a relatively safer investment option.
Statements by Donald Trump regarding ongoing talks with Iran have also kept markets cautious while raising hopes of a possible easing of tensions.
Analysts believe factors such as rising crude oil prices, inflation concerns and expectations surrounding interest rates could continue to influence the movement of gold and silver prices in the coming days.
However, market observers noted that precious metal prices remain highly sensitive to global developments and could witness fluctuations depending on geopolitical and economic conditions.
