HYDERABAD, February 10: Gold prices in Hyderabad’s bullion market reached new record highs on Monday. The price of 22-carat gold increased by ₹350 per 10 grams, bringing it to ₹79,800 per tola. Similarly, 24-carat gold saw a rise of ₹390 per tola, reaching ₹87,060. This marks the first time in history that gold has crossed the ₹87,000 mark.
The surge in gold prices coincides with the onset of the wedding season in the Telugu states, traditionally a period of high demand for gold. Over the past two months, gold prices have fluctuated, but the recent increase has been particularly significant. In contrast, silver prices have remained stable, with the market rate standing at ₹1,07,000 per kilogram.
The continuous rise in gold prices poses challenges for lower and middle-income families, for whom gold is an essential part of wedding traditions. Despite the escalating costs, consumers continue to purchase gold for matrimonial purposes. Analysts predict that if this trend persists, the price of gold could soon reach ₹100,000 per tola.
