Changing Investment Preferences

Historically, gold was primarily associated with jewelry, serving as a status symbol and a cherished asset for emergencies. However, as economic circumstances evolve, individuals are now recognizing gold’s potential as a solid investment. This shift is evident as more people move away from real estate investments and gravitate toward precious metals like gold and silver.

Current Gold Prices in Telugu States

On the auspicious occasion of Durgashtami, let’s take a closer look at the current gold prices in the Telugu states. As of today, October 10th, the price of 10 grams of 22-carat gold in Hyderabad stands at ₹70,290, a slight decrease of ₹10. Meanwhile, 24-carat gold is priced at ₹76,680 for the same quantity. These prices remain consistent in major cities across Andhra Pradesh, including Vijayawada and Visakhapatnam.

Gold Prices in Major Cities Across India

As the demand for gold surges, here are the current prices for gold in various key cities:

• Chennai:
  • 22-carat gold: ₹70,290
  • 24-carat gold: ₹76,680
• Mumbai:
  • 22-carat gold: ₹70,290
  • 24-carat gold: ₹76,680
• Delhi:
  • 22-carat gold: ₹70,440
  • 24-carat gold: ₹76,830
• Bangalore:
  • 22-carat gold: ₹70,290
  • 24-carat gold: ₹76,680
• Kerala:
  • 22-carat gold: ₹70,290
  • 24-carat gold: ₹76,680

The Growing Demand for Silver

In addition to gold, silver (referred to as pasidi in Telugu) is also witnessing an upsurge in demand. Traditionally seen as a more accessible investment, silver is becoming increasingly popular among those looking to diversify their portfolios. As people celebrate festivals like Navratri, the inclination to purchase silver items for religious and cultural significance adds to its appeal.

Conclusion

As we celebrate the Navratri festival, the trends in gold and silver prices reflect a broader shift in investment strategies among the populace. The current prices in major cities indicate a growing recognition of precious metals as valuable assets. With fluctuating market conditions and the ongoing demand for these metals, investing in gold and silver remains a prudent choice for many.

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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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Current Gold Prices in Major Telugu States

In Hyderabad, the price for 22-carat gold has reached Rs. 67,160 for 10 grams. Meanwhile, the price of 24-carat pure gold for the same quantity is Rs. 73,260. These prices are consistent in other significant cities of Andhra Pradesh, such as Vijayawada and Visakhapatnam.

National Gold Prices

Looking at gold prices in major cities across the country:

• In Delhi, the price of 22-carat gold is Rs. 67,310, while 24-carat gold is priced at Rs. 73,410.
• In Chennai, 22-carat gold is also at Rs. 67,160, with 24-carat gold priced at Rs. 73,260.
• In Bengaluru, the prices mirror those in Chennai, with 22-carat gold at Rs. 67,160 and 24-carat gold at Rs. 73,260.
• Similarly, in Kolkata, the price for 22-carat gold stands at Rs. 67,160, and 24-carat gold at Rs. 73,260.
• These prices remain the same in Mumbai and Kerala, the latter being known for its deep-rooted gold culture.

Marketing experts indicate that fluctuations in gold prices are influenced by various factors, including RBI interest rates and Federal Reserve interest rates.

Silver Prices in the Country

Silver prices have also seen some movement, having reached a kilo lakh mark previously before coming down again. On September 12, the price of silver per kg saw a slight increase, rising from Rs. 86,500 to Rs. 86,600. In Hyderabad, the silver price currently stands at Rs. 91,600, a figure that remains consistent in Vijayawada and Visakhapatnam.

As the precious metals market continues to experience fluctuations, it remains essential for consumers and investors to stay informed about the latest prices and trends.

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