Today’s Gold Rate/Price in Hyderabad 22 & 24 Carat Gold – 21 Mar 2023

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Hyderabad is the capital of Indian state Telangana. It is a major cultural hub of the state and the country. The city was ruled by the Nizams and has a lot of historical monuments all over the city. People of Hyderabad like to invest in gold by buying jewelries and gold bars.

Gold Price Today in Hyderabad

Hyderabad is one of the most populated cities in India. This historic city is known for its affinity towards gold and gold products. Today’s Gold rate Trend Hyderabad are a direct consequence of global gold rates, which are affected by a wide range of factors such as global production, strength of currency, internal demand of the country, prices of other commodities such as oil, and so on.

In Hyderabad, gold is mostly offered in the form of jewellery and associated items. This is mostly for personal consumption for events such as weddings and festivals, as well as both a long and short-term investment strategy. Gold returns have historically been guaranteed and stable, which is one of the main reasons why people in Hyderabad prefer gold to other types of investments such as bank savings or equity markets.

Check – Today Silver Rate in Hyderabad

Historical Gold Price in Hyderabad

Months Lowest Price 24 Karat Gold – ₹ Per 10 Grams Highest Price 24 Karat Gold – ₹ Per 10 Grams
February 2023 54,610 57,490
January 2023 54,020 56,490
December 2022 52,030 53,380
November 2022 50,310 51,860
October 2022 50,210 51,960
September 2022 50,320 52,870
August 2022 50,200 52,780
July 2022 50,290 52,860
June 2022 50,790 52,860
May 2022 50,290 52,790
April 2022 47,800 52,140
March 2022 50,950 54,330
February 2022 48,980 51,550
January 2022 48,550 50,100

March 2023 Gold Rate in Hyderabad

Parameter Gold price (24 karat)
1 March Rate Rs.5,497 per gram
15 March Rate Rs.5,649 per gram
Highest Rate in March Rs.5,660 per gram on 14 March
Lowest Rate in March Rs.5,413 per gram on 9 March
Overall Performance Incline

February 2023 Gold Rate in Hyderabad

Parameter Gold price (24 karat)
February 1 Rate Rs.5,628 per gram
February 28 Rate Rs.5,467 per gram
Highest Rate in February Rs.5,749 per gram on 2 February
Lowest Rate in February Rs.5,461 per gram on 27 February
Overall Performance Incline

January 2023 Gold Rate in Hyderabad

Parameter Gold price (24 karat)
January 1 Rate Rs.5,429 per gram
January 31 Rate Rs.5,605 per gram
Highest Rate in January Rs.5,649 per gram on 26 January
Lowest Rate in January Rs.5,402 per gram on 2 January
Overall Performance Incline

Also Check Gold Price in Metro Cities

Ways to invest in gold in Hyderabad

Hyderabad, as one of the country’s fastest growing cities, offers a plethora of chances for all types of gold investors, from huge jewellery buyers to investment-oriented corporations. People can invest in gold coins, jewellery, gold bullions (bricks), and gold exchange-traded funds (ETFs).

Things to Know before investing in Gold in Hyderabad

No matter how much Indians grow, their obsession is never likely to end. So, in this section, we will tell you about some of the things you should keep in mind when investing in the metal:

  • How pure is the gold – There are different purity levels to gold 14 karat, 18 karat, 22 karat, and 24 karat. A 24 karat gold is the purest form of gold available and is likely to cost considerably more when compared to the others.
  • Do you know the labour charges involved – One of the many ways jewellers earn their money is charging labour charge on a piece of jewellery. The maker charges a certain amount depending on the type and the complexity of the piece in question. Making charges will be added to the final price of your purchase. To know more about it, analyse your bill carefully or talk to your jeweller the next time you’re making a purchase
  • Certification In Place? – Gold is certified and authenticated by the Bureau of Indian Standards, which main aim is to make sure that you – the customer – aren’t fleeced by the jeweller for a substandard or fake product. The BIS certifies the gold a jeweller is selling based on their purity levels. When you’re making a purchase, make sure to check the purity levels before buying.
  • When you are purchasing – The timing of your purchase can have a bearing on how much your jewellery could cost. For instance, during festive seasons when demand is high, you are likely to spend more as opposed to buying during the off season. Also be on the lookout for additional offers which reputed jewellers put up from time to time.
  • Keep the weight in mind – When a jewellery is weighed before a sale, any other stones used (emerald, diamond etc) will also be included in the pricing. This may increase the price of your jewels further. So, keep this in mind when purchasing studded jewellery.

Gold as an Investment in Hyderabad

Gold is the preferred choice for metal commodity in Hyderabad. Gold rates in Hyderabad follow the trend of all major cities in the country. Buying gold is very easy in the city, as there are lots of stores and dealers who are into selling and buying gold. Investments in gold have become a major component of individual investments in commodities in the city.

Jewelry: Gold jewelries are popular among the residents of Hyderabad. The city offers some of the best options in gold jewelry in the country. Hyderabad, along with Chennai and Bangalore, forms a big portion of gold jewelry demand in southern India.

Coins and bullion: Gold coins can be purchased from various banks in the city. These are also popular with residents in the city, as coins can be purchased in varying purities and weights as well as from a number of places including private dealers. Bullions can be purchased from the large dealers based in the city. These are also available in varying purity and weights, however bullions are generally available in larger quantities of gold.

Commodity exchanges: Gold as a commodity can be traded in various exchanges such as MCX, NSEL or NCDEX. These exchanges are used by residents of Hyderabad for investing in contracts of gold of varying tenures. The contracts are available as spot contracts and futures contracts.

Factors that Affects the Gold Prices in Hyderabad

There are a lot of factors involved in gold trading and the prices slapped on the metal in various cities. Hyderabad, in this case. Here’s a list of all of these factors:

India is the second largest importer of gold in the world, and it mostly uses the US dollar to pay for a particular trade. If the rupee is weaker against the dollar at a given point in time when a trade is happening, gold prices are expected to be higher. This is because importers have to pay more rupees to make the purchase. Also, the same will trickle down to the end user who buys gold as well. On the other hand, if the US dollar is weaker, gold is expected to cost comparatively less.

When we say logistics, we mean to emphasise the time since gold is imported to the time it makes it to the hands of the consumer. Gold, as you know, is a precious metal and due to its monetary value, its requires a lot of safeguarding. Depending on how the situation in a city is, gold rates are likely to increase or decrease. In simple terms, the harder it is to transport gold to a city, the higher the costs are likely to be.

Bullion associations also play a huge role in how gold is priced in a city. Gold rates are fixed twice a day, once when the day begins (called the opening price) and once when the day ends (called the closing price).

What’s the difference between KDM and Hallmark gold in Hyderabad?

KDM refers to the process through which gold jewellery is made. Gold, as a metal, is rather soft and jewellery was made by soldering the piece with other metals and for this purpose only a metal with a lesser melting point was used. When the process was initially invented, Cadmium was used as the soldering agent. However, this brought with it a number of complications, wherein it decreased the purity of the gold while it was also responsible for various kinds of health hazards. Now, other metals like zinc or copper are used, which has drastically cut down the health risks.

Hallmark, on the other hand, refers to the certificate given by the Bureau of Indian Standards, a government body which deals with authenticating gold. For example, you buy a piece of jewellery that a store claims is 24 karat or 22 karat. BIS is the entity that certifies that a gold is what a jeweller claims it is.

Buying gold and gold jewellery in Hyderabad

There are plenty of places with history where you can buy gold in Hyderabad. Stores like Jagdamba Pearls, MOR Jewellers, Krishna Pearls and Jewellers are just a few of them.
On the other hand, if you want to buy gold you can go with the Multi Commodity Exchange (MCX), which lets you buy 22 karat and 24 karat gold.

How is gold imported into Hyderabad?

Importing gold isn’t possible for everyone and can only be done by a few designated importers such as banks, who sell it to various dealers at a margin in order to recoup the money they have spent. Once they have decided on the margins, banks sell the gold to retailers, who in turn design jewellery and sell them to consumers.

Future gold rates: How are they decided in Hyderabad

Future rates, as the name suggest, are the rates at which gold is likely to be traded in the future.There are a number of factors that go into deciding future gold rates in a particular city. These factors are as follows:

  • Current trends – Although there are no given parameters to decide future rates of gold, current trading rates will be taken into account when traders set the price. Besides this, traders will also look at cues from the global scene and keep track on any gold-related news and that of the US dollar. Analysts will also look at silver rates to ascertain what a future trend could look like.
  • Forex rate – The rate at which Indian rupee is being exchanged will also play a part in what future rates could look like.

Taxes on Gold in Hyderabad

Like every commodity, there’s a tax that has to be paid on gold as well, of which there are three. Below are all of them mentioned for you.

  • Capital Gains Tax – Gold trades, in the form of ETFs, incur taxes depending on when and how they are sold. For instance, if gold is sold within 12 months of buying it, the profit will be taxed at 10%. On the other hand, if gold is sold after 36 months, capital gained through the sale will be taxed at 15% and also check GST on gold.
  • Wealth Tax – Gold is considered wealth, and hence it will be taxed. If wealth exceeds more than Rs.30 lakh, a wealth tax of 1% needs to be paid. The valuation for the gold will be done based on the rates on 31st March.

FAQs on Gold price in Hyderabad

  1. Where to buy gold in Hyderabad?

    Gold should be purchased from genuine and certified jewellers. There are many reputed gold jewellers in Hyderabad which sell hallmarked gold ornaments and jewellery.

  2. What factors determine gold rate in Hyderabad?

    The factors that determine gold rate in Hyderabad are many, ranging from local and global economic factors that affect the gold tariff rates as well as gold interest rates.

  3. What would be the best time to sell gold in Hyderabad?

    The best time to sell gold in Hyderabad is when the gold rate in Hyderabad is at its highest. It will help to keep track of the trends in gold rates for this, either by tracking gold prices in Hyderabad online or offline.

  4. What is the best time to buy gold in Hyderabad?

    If you have decided to buy gold in Hyderabad, the best time to do it would be when gold rates in Hyderabad are high. This will be driven by market factors so it is important to keep an eye on the latest news and trends in order to know when prices slump or increase. You can find out the current gold prices offline or online.

  5. What should you keep in mind when buying gold in Hyderabad?

    When buying gold, you should ensure that it is from a reputed seller, has the certificate of purity and quality, the correct bill, and that it is of good quality gold, either of 22 karat or 24 karat, which will depend on your budget.

  6. How do gold traders assume future gold rates in Hyderabad?

    The gold traders assume the closing price of the previous days as the future gold rate in Hyderabad.

  7. Is gold price in Hyderabad the same for physical gold and digital gold?

    No. The price of physical gold is less than that of digital gold because of its authenticity. On other hand, the price of digital gold always remains the same.

  8. Should you buy 18 karat gold in Hyderabad?

    Yes, 18 karat gold is good because of its sturdiness and hardness. Moreover, it is affordable as compared to 24 karat and 22 karat gold.

  9. How can you make gold investment in Hyderabad?

    There are various ways to make gold investment in Hyderabad such as buying physical gold, purchasing shares in gold Exchange Traded Funds (ETFs), shares in gold mining company stocks, or purchasing gold futures.

  10. Which gold rate in Hyderabad is more – 18 karat, 22 karat, or 24 karat?

    The higher the karat is, the purer the gold will be, which will make 24 karat more expensive than 22 karat or 18 karat gold.

Check Gold Price in NearBy Cities of Hyderabad

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