Gold prices fell in Hyderabad as well as in the national capital, Delhi. The price of 10 grams of 22 carat gold fell by Rs 1,190 to Rs 47,200. Also, 10 gram gold of 24 carat gold fell by Rs 1,280 to Rs 51,510. Along with gold, silver also looked down. KG silver fell by Rs 800 to Rs 62,700.
Even in Vijayawada, our neighboring Telugu state, gold and silver prices have skyrocketed. There, too, the price of 10 grams of 22 carat gold fell by Rs 1,190. This brings the price to Rs 47,200. Also, 10 grams of 24 carat gold fell by Rs 1,280 to Rs 51,510. In Vijayawada, the silver rate fell by Rs 1,900 to Rs 67,600.
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In Chennai, however, gold prices did not fall to this level. Gold of 10 carat gold of 22 carat traded lower by Rs 470 to Rs 48,550 in the Chennai bullion market. The price of 10 grams of 24 carat gold was recorded at Rs 52,970. Silver in Chennai fell sharply again. Silver fell by Rs 1,900 to Rs 67,600 per kg.
Gold prices plummeted under the influence of global markets. With the US Federal Reserve’s policy meeting set to begin today, gold prices have turned negative. It seems that the Fed will raise interest rates at this meeting. But it remains to be seen whether the increase will be this far.
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