Gold buyers face a significant shock as gold prices continue to surge for the second consecutive day. After a relatively stable start to the new year, gold prices have now crossed the ₹80,000 mark for 10 grams of 24-carat gold, with the current rate at ₹80,300. Meanwhile, 10 grams of 22-carat gold is priced at ₹72,610.
HIGHLIGHTS:
- Gold prices see a sharp rise, surprising buyers.
- Stable silver prices provide some relief.
- Experts predict further price hikes due to global economic factors.
This sharp increase marks a turning point after weeks of stability. Silver prices, however, remain steady, providing some relief to buyers.
Market Overview in Hyderabad (January 10, 2025):
- 24-carat gold: ₹80,300 for 10 grams
- 22-carat gold: ₹72,610 for 10 grams
Why Are Gold Prices Rising?
Experts attribute this surge to a combination of international and domestic factors. Globally, the economic climate is facing significant challenges, with countries like the United States grappling with financial instability. As a result, investors are increasingly turning to gold as a safe-haven asset, driving up demand and prices.
Domestically, heightened demand for gold is also contributing to the price surge. Analysts predict that this trend may continue, with gold prices possibly reaching record highs in the coming weeks.
What to Expect
Given the current economic climate and rising demand, experts suggest that gold prices may climb further. For those planning to invest, timing will be crucial as the market trends toward unpredictability.
Stay tuned for more updates on gold and silver rates.
