Gold Rate Today in Hyderabad - 22 Carat and 24 Karat Gold Price in Hyderabad (17th November 2024)

Gold is considered a highly appreciated asset and an excellent investment because of its outstanding resale value. It is also an essential asset as per our customs. You can purchase gold in different forms, such as jewellery, gold coins, gold bonds, etc. But it is vital to know the purity of gold before buying or selling gold. This will help you get to know the right time to purchase gold and at the best price. 

Today’s Gold Rate in Hyderabad

The Indian Bullion Association decides on the purity and gold rate in Hyderabad. All the sellers and traders are required to maintain the mark set by the association. The gold rate in Hyderabad has been showing movement since the start of the year. This happened as the equity share market had ups and downs. So investors moved to invest in gold instead of the share market as it is a safe asset. 

The gold rates in Hyderabad are affected by many factors that include factors like inflation and changes in global prices. Coming to the trends, the gold rate in Hyderabad in 2011 was ₹ 26,400 per 10gm. In 2022, it is ₹ 47,940 per 10 gm. If you are wondering about the future gold trends in Hyderabad and want to take advantage, this article will give you knowledge regarding the same.

Gold rate in Hyderabad for the last 10 days

Historical prices of gold rate in Hyderabad (10 grams)

Gold Investments  - Today's best option

Generally, there used to be a belief that gold investments are profitable, but they also had various taxes. You had to pay different taxes to buy and sell gold, like service tax, sales tax, etc. Any profit from the sale of gold attracts capital gains tax. Considering all these factors, gold investments for short intervals don’t bring much profit and have many procedures. However, long term investments in gold make it worthwhile. During times of fall in currencies and monetary inflation, gold protects one's purchasing power. Make sure that the gold price when you buy is at its possible lowest. Similarly, the perfect time to sell gold is when its price is at its highest so that you can make good returns.

Also Read: Steps to Calculate the Gold Price for Jewellery

Here’s a look at the comparison between gold investment and mutual funds

Gold investments and their forms

One can invest in gold through several ways that include physical gold, digital gold and gold bonds.

Let’s understand in detail:

Physical gold is the traditional method of buying gold for personal use in coins, jewellery, and investment.

Gold Bonds –  Many investors usually prefer buying gold bonds because various charges like making charges and wastage charges can be excluded in this form.

Digital Gold – Gold in electronic form is considered digital gold. Customers can buy gold online, and the sellers can store it on behalf of the customer. Digital gold is an easy way to invest in gold. The only thing you need to do is to compare different features and the charges on the product. Here you need to set your specific financial goals before investing. You can buy gold online from platforms like Khatabook.

Also Read: What are Gold Exchange Traded Funds or Gold ETFs?

How to determine the purity of gold?

Indian Bullion Association is responsible for determining the purity of gold which is the same that is followed in Hyderabad too. These are the various ways of checking the purity of gold in Hyderabad.

The purity of gold is certified by a method called hallmarking. It is under the control of the Bureau of Indian Standards (BIS). The BIS marking has four essential parts in determining the purity of gold. Those are:

• BIS mark
• Hallmarking centres identification number
• Jeweller’s identification number
• Purity in carats.

When you think of buying gold, it is better to opt for either 24 carat gold or 22 carat gold. Then you must make sure to purchase from BIS centres as they provide the best purity hallmarks. 

Also Read: Here are the 8 Most Famous Types of Gold

How Gold Rate is Determined 

Some of the following factors determine gold rates in Hyderabad:

From domestic to international concerns, various factors are responsible for the changes in the gold rate in Hyderabad. A few of these factors are given below: 

•   Geo-Political Concerns: Across the world, gold is considered to be a safe investment. The geopolitical concerns play a role in determining the gold rate. For example, territorial disputes and wars between countries affect share markets and economies and increase the gold rates. When these geo-political events occur, the demand for gold also increases.

•    US Federal Reserve: In all the international markets worldwide, the US dollar is the reserve currency and other currencies’ standard. When the US Federal Reserve increases its interest rate, there will be a decrease in the gold rate as investors move to bonds and other debt instruments. In simple words, an increase in the US Federal Reserve rate will decrease the gold price, and a decrease in the US Federal Reserve rate will increase the gold price. 

•    Local Factors: Some local factors like transportation charges to transport gold to and from Hyderabad also influences the gold rate in Hyderabad.

Things To Check Before Buying Gold In Hyderabad

•    Purity of Gold: Carat is a measure used to check gold purity. The 99.9% pure gold is 24 carat gold 92% pure gold is 22 carat gold. Here one-carat gold is equal to 4.2% pure gold. It means 14-carat gold is similar to 58.33% pure gold, and the 18 carat gold is equal to 75 per cent of pure gold. Only 22 carats, 18 carats and 14 carat gold are used to make jewellery. 24 carats gold is not approved for making jewellery as it is very soft. So before buying gold, it is necessary to measure the purity of gold based on the carat. It is always good to buy BIS hallmarked jewellery as they are tested and certified.

•     Making Charges: These are charges on the jewellery for making a particular piece and are calculated accordingly. Making charges also affect the gold rate in Hyderabad. Check the making charges with other stores so that you don't get overcharged. Opting for fixed making charges will also reduce your total cost.

•    Man-made or Machine-made Jewellery: Nowadays, there is a considerable demand for gold, so coming across machine-made gold is more common. When comparing man-made jewellery and machine-made jewellery, the making charges of machine-made jewellery are less.

•    Measure the Weight: In Hyderabad, gold is sold based on weight. Precious stones and gems such as ruby, emerald and diamond are fit into gold jewellery to make the whole piece look more elegant. So here you have to pay for the gold weight and stone weight separately. It is important to understand this when buying studded jewellery as the resale value will also be affected.

•     Festivals and Events:  High sales in gold jewellery happen mostly during festival seasons and wedding seasons. So, if you buy gold in these seasons, the gold rate will be comparatively high. So it is advisable to buy gold during the off-season because you can get discounts and buy at relatively low prices.

•    Buy Backs:  It is the process where old jewellery items are exchanged for new jewellery items. Almost every jewellery store offers a buyback option. Gold value remains constant, but many designs change based on trend. Get details of buybacks in the jewellery store at the time of buying. You can get the new trendy jewellery designs in exchange for the old ones later on.

•    Jewellery Store: From small to big there are several jewellery stores in every city. It is always better to buy gold from branded stores than small shops because there is a chance of getting impure gold, which reduces its resale value. Also, branded jewellery shops offer a guarantee for the jewels you purchase. They will fix it if it is damaged within a given period. 

Trading of Digital Gold  

First, you must visit a trusted platform like  Khatabook that offers digital gold investments. The general steps include:

1. Enter the amount in INR or grams you need to buy 

2. Select your payment method from the given options 

3. Store your gold in a secured locker 

4. Check prices and find the right time and sell your digital gold

5. Take the physical delivery of your gold. 

Where to Buy Gold in Hyderabad?

Some well known jewellers in Hyderabad are:

1. Jagadamba Pearls
2. Manepally Jewellers
3. Tibarumal Jewels
4. Mangatrai Pearls & Jewelers
5. Shri Ram Jewelers