HYDERABAD, January 31, 2025: Gold prices have escalated to unprecedented levels in the domestic bullion market. On Friday, 22-carat gold increased by Rs. 1,200, reaching Rs. 77,300 per 10 grams, while 24-carat gold rose by Rs. 1,310, pricing at Rs. 84,330 per 10 grams. This surge comes just before the budget presentation, leaving gold enthusiasts concerned. Market experts note that such a significant price hike has not been observed in recent times.
In the national capital, New Delhi, 24-carat gold is priced at Rs. 84,480 per 10 grams, and 22-carat gold at Rs. 77,450 per 10 grams. Similar rates are observed in Hyderabad, Vijayawada, and Visakhapatnam.
Silver prices have also seen an uptick. Today, silver increased by Rs. 1,000 per kilogram, reaching Rs. 99,500 in the bullion market. In major cities of the Telugu states, including Hyderabad, Visakhapatnam, and Vijayawada, silver prices have touched Rs. 1,07,000 per kilogram.
Factors influencing gold prices in the country include international market rates, import duties, taxes, and fluctuations in exchange rates. With the rupee depreciating against the dollar, there is speculation among business circles that the upcoming budget may increase import duties on non-essential goods and metals to curb this decline. Market analysts predict that such measures could lead to further price hikes.
Given the current trend, if prices continue to rise, it may become increasingly difficult for the average consumer to purchase gold.
The recent surge has already made many reconsider their buying decisions. It’s a situation that has left many pondering their future investments.
As the budget announcement approaches, all eyes are on potential policy changes that could impact these prices further. Consumers and investors alike are advised to stay informed and make decisions cautiously.
