Huge Drop In Gold Prices In Hyderabad Today: 24K/100 Gms of Gold Falls Rs 17,400; 1 Kg Silver Down Rs 4,000

Friday, April 4, saw a steep decline in domestic gold prices after the U.S. President Donald Trump announced huge "reciprocal tariffs" on Thursday, the first day of a full-scale trade war. Driven by reciprocal tariffs' effects and due to risk aversion triggered by US tariffs, gold maintained over $3,110 on Friday, set for a sixth weekly rise after reaching record highs. Following its most recent record high, gold prices are predicted to fluctuate as the dollar weakens due to uncertainty and concerns about the US recession.

Gold & Silver Price In Hyderabad Today

Today, 24 carat gold costs Rs 9,164 per gramme, 22 carat gold costs Rs 8,400 per gramme, and 18 carat gold costs Rs 6,873 per gramme in Hyderabad. While the price of 22k of 10 grams of gold in Hyderabad dropped by Rs 1,600 to Rs 84,000 on Friday from Rs 85,600 on Thursday, the price of 22k of 100 grams of gold in the city dropped by Rs 16,000 to Rs 8,40,000 today from Rs 8,56,000 yesterday.

While 24k of 100 gms of gold would cost Rs 9,16,400 today compared to Rs 9,33,800 yesterday, showing an enormous decline of Rs 17,400, 24k of 10 grams of gold prices in Hyderabad touched Rs 91,640 on Friday compared to Rs 93,380 yesterday, representing a price drop of Rs 1,740.

In Hyderabad, the price of 18k of 10 grams of gold dropped by Rs 1,310 to Rs 68,730 on Friday from Rs 70,040 on Thursday. In the same way, the price of 18k of 100 grams of gold dipped by Rs 13,100 to Rs 6,87,300 today from Rs 7,00,400 yesterday.

Today, silver costs Rs 1,08,000 per kilogram and Rs 108 per gram in Hyderabad. In Hyderabad, 10 grams of silver will cost Rs 1,080 on Friday compared to Rs 1,120 on Thursday, 100 grams of silver will cost Rs 10,800 today opposed of Rs 11,200 yesterday, and 1 kg of silver will cost Rs 1,08,000 on Friday as opposed of Rs 1,12,000 on Thursday, which is a Rs 4,000 price drop.

MCX Gold Outlook Today

"Technically, gold saw a sharp fall in yesterday's trading session, ending the day negative. On the daily chart, charts are bullish and the uptrend is still intact. However, on a more granular level, on intraday timeframes, it seems to have broken the uptrend and has made a lower high. Now, support is placed at 88720 levels and resistance at 90400 on the 1-hour timeframe. Traders can sell gold for a target of 88800; any close above 90400 on the 1-hour timeframe will need a review," said Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Outlook Today

"Gold and silver prices are trading lower today on the international bourses. We expect precious metals prices on Indian bourses to trade slightly lower for the day, as gold prices are steady after falling from its latest record high, with the precious metal swept up in the pessimistic mood that hit global markets in the wake of US President Donald Trump's more-aggressive-than-expected tariff agenda," commented the research team of Nirmal Bang Securities Pvt. Ltd.

Disclaimer

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