Gold and silver prices usually fall when the Fed raises interest rates. That’s why if interest rate hikes slow down now, gold and silver rates will rise. It’s happening right now. However, even though the Fed hiked interest rates in December, gold and silver prices did not fall much at that time.
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Domestically, gold and silver rates have hit a two-year high. Rates as on August 2020. Currently, the price of 22 carat Tulam gold in Hyderabad has increased by Rs.500.. Currently it has touched the mark of Rs.50,950. And the rate of 24 carat 10 grams of gold in Hyderabad increased by Rs. 540. At present it continues at Rs. 55,580.
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And the rate of gold in Delhi is slightly higher compared to Hyderabad. In the national capital, the price of 22 carat gold rose by Rs.500 per pound and is currently trading at Rs.51,100. And the rate of 24 carat pure gold has increased by Rs.530 and is currently at Rs.55,730 per 10 grams.
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On the other hand, along with gold, silver prices are also increasing. In Hyderabad, silver rose by Rs.1000 and is currently trading at Rs.75,500. A kilo of silver in Delhi has increased by Rs.700 and is currently at the Rs.72 thousand mark. But silver rate is slightly higher in Hyderabad compared to Delhi. This can be attributed to local taxes and conditions.
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