Hyderabad Gold Rates
On June 23, gold prices fell in the Hyderabad market. 22 carat gold is priced at Rs. 200 declined. With this, the rate of ten grams of pasidi is Rs. Reduced to 47,450. The same goes for the 24 carat gold rate. Rs per 10 grams. 220 declined. Rs. Reduced to 51,760. This is the second day in a row that gold prices have fallen. During these two days, the gold price rose to Rs. 320 dropped. Looking at the silver rate .. Silver rate today is Rs. 300 came down. With this, the rate of silver per kg is Rs. Reduced to 66 thousand.
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What caused the price of gold to fall?
It can be said that the US dollar has had an impact on the pound rate. The effect on gold was as the dollar strengthened. Also the next meeting of the US Federal Reserve will take place next month. There are speculations that rates may rise again this time as well. Moreover, the fall in the rupee to an all-time low in the domestic market was also negative. Many factors have had an impact on gold prices. The rate of gold has also declined in the global market. The pound fell 0.04 percent to $ 1837 an ounce. The silver rate also fell 0.29 percent. It is trading at $ 21.36 an ounce. Experts say that the same trend has continued in the domestic market due to the fall in rates in the global market.
India is in fourth place
India is the fourth largest gold recycling country. In 2021, India will recycle about 75 tonnes of gold. It accounts for 6.5 percent of the world’s total gold recycling. A recent report by the World Economic Council (WGC) revealed this. In the last five years, 11 per cent of India’s gold supply has come from Old Gold. This is due to the rise in gold prices and gold rate forecasts. If gold prices rise one per cent, gold recycling will rise 0.6 per cent.
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