Gold Price In Hyderabad: 22 & 24K/100 Gms Jumps Over Rs 9,500, 18K Rally Rs 7,800; 1 Kg Silver Hit Rs 1.10 Lac

On Wednesday, April 16, domestic gold prices saw an enormous rise due to the continued decline of the dollar index below the 100 level. After the US Trump administration exempted mobile phones and computers from heavy tariffs on China, spot gold prices fell from an all-time high on the global market. Gold rates may continue to fluctuate in the days to come due to mounting trade conflict between the US and China, softer-than-expected US inflation, and rising inflows into the bullion market, even as trade war worries ease.

Gold & Silver Rates In Hyderabad Today

Today, 24 carat gold costs Rs 9,617 per gram, 22 carat gold costs Rs 8,815 per gram, and 18 carat gold costs Rs 7,213 per gram in Hyderabad. In Hyderabad, the price of 22k of 10 grams of gold surged by Rs 950 to Rs 88,150 on Wednesday from Rs 87,200 on Tuesday, while the price of 22k of 100 grams of gold shot up by Rs 9,500 to Rs 8,81,500 today from Rs 8,72,000 yesterday.

While 24k of 100 gms of gold hit Rs 9,61,700 in Hyderabad today compared to Rs 9,51,800 yesterday, showing a price rise of Rs 9,900, 24k of 10 grams of gold reached Rs 96,170 on Wednesday compared to Rs 95,180 on Tuesday, representing a higher rate of Rs 990.

While 18k of 100 gms of gold touched Rs 7,21,300 in Hyderabad today compared to Rs 7,13,500 yesterday, reflecting a more expensive rate of Rs 7,800, 18k of 10 grams of gold reached Rs 72,130 on Wednesday compared to Rs 71,350 on Tuesday, showing a price rise of Rs 780.

In Hyderabad, the price of silver is Rs 110 per gram and Rs 1,10,000 per kilogram today, as opposed to Rs 109.80 and Rs 1,09,800 yesterday.

MCX Gold Outlook Today

"On the technical front, gold remains extremely bullish. It is in a strong uptrend, consistently making new higher highs. Currently, it is trading near its upper Bollinger Band with a positive Supertrend and is above all short-term and long-term moving averages, indicating strong upward momentum. Support is currently placed at 92,450/91,400, while resistance is seen at 93,940/94,350. Traders are advised to adopt a "buy on dips" strategy. One can consider buying gold near the support area, targeting 93,940/94,350 on the upside," said Abhishek M Pelu - Research Analyst at Way2Wealth Brokers.

Gold & Silver Price Prediction Today

"Gold prices are trading higher today on the international bourses. We expect precious metals prices on Indian bourses to trade higher for the day, as gold prices rose to a record high as US President Donald Trump ordered a probe that could open up a new front in the global war, sparking another retreat from equities and a move toward haven assets," according to Nirmal Bang Securities.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.