The prices of gold, which had seen a decline in recent times, are now on the rise once again, causing concern among consumers and farmers, especially with the festive season of Dussehra, Navratri, and Diwali approaching. The latest price updates reveal that as of Saturday, 28 September 2024, the price of 22-carat gold stands at Rs.71,010 for 10 grams, while 24-carat gold is priced at Rs.77,460. Silver prices have also seen a significant increase, reaching Rs.96,100 per kilogram.

In Hyderabad, the prices for 22-carat and 24-carat gold are Rs.71,010 and Rs.77,460, respectively. Similarly, in Visakhapatnam and Vijayawada, the rates for both types of gold are consistent with those in Hyderabad. Delhi reports prices of Rs.71,160 for 22-carat gold and Rs.77,610 for 24-carat gold. Mumbai, Chennai, and Bengaluru also witness similar price trends for both gold variants.

When it comes to silver, Hyderabad, Visakhapatnam, and Vijayawada record prices of Rs.102,100 per kilogram, while Delhi, Mumbai, Bangalore, and Chennai report varying rates, with Chennai having the highest at Rs.102,100.

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The damage caused by the floods has directly impacted the availability and affordability of vegetables for the local population. As the prices soar, many are expressing concerns about their ability to purchase essential food items.

In areas like Karimnagar district, where heavy rains have wreaked havoc on vegetable gardens, the yield has drastically decreased. Submerged crops and lost harvests have further exacerbated the scarcity, pushing prices to unprecedented levels.

Currently, the market reflects this crisis, with almost all varieties of vegetables hitting century marks in terms of pricing. Tomatoes, green chillies, legumes, berkaya, okra, carrots, cauliflower, greens, coriander, and mint are among the commodities witnessing sharp price hikes.

Previously, a modest sum of three hundred rupees could sustain a family for a week, but now, the same amount barely covers two days’ worth of vegetables. Onion prices have also surged, adding to the financial burden on consumers.

Traders anticipate that these elevated prices will persist until the arrival of new crops, prolonging the strain on household budgets. The community is calling for measures to ensure that vegetables remain affordable and accessible to all, especially amidst the current economic challenges.

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In the past few days, gold prices have witnessed significant jumps, with the price of Libra gold shooting up by nearly 1500 rupees. The latest figures as of September 15 show a substantial increase, with 22 carat gold priced at Rs.68,650 for 10 grams and 24 carat gold at Rs.74,890. The stagnation seen in gold prices recently seems to have lifted, bringing relief to the market.

In major cities like Delhi, Hyderabad, Vijayawada, Kolkata, and Bengaluru, the prices for 22 carat and 24 carat gold per 10 grams have seen a consistent rise, reflecting the overall trend in the market. Meanwhile, silver prices have also followed suit, with a significant increase from Rs. 84,000 to Rs. 92,000 in just two days. Some regions like Chennai, Hyderabad, and Kerala have reported even higher prices, reaching up to Rs. 97,000 per kilogram.

India’s unique demand for gold, especially for auspicious occasions like weddings, continues to be a driving force in the market. However, the daily fluctuations in gold rates can be attributed to varying demands and international market dynamics. The recent movements in gold prices have kept investors and consumers on edge, especially with the unexpected surge in prices over the last two days.

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