Gold holds near record in Hyderabad; silver eases to ₹2,24,539 a kg
Gold held near record levels in Hyderabad on Monday, with 24-karat gold quoted at ₹1,50,980 per 10 grams (₹15,098 a gram), down from ₹1,51,420 on Sunday, according to GoldsRate. Twenty-two-karat gold, the purity most jewellery is made in, was quoted at ₹1,38,400 per 10 grams.
Silver eased to ₹2,24,539 per kilogram (₹225 a gram) in the city, in line with softer MCX futures. Dealers said the weak rupee continues to cushion domestic bullion, keeping local prices elevated even when global rates soften.
Traders will now watch inflation readings from India, China and the United States for clues on the US Federal Reserve's next move — the key variable for gold's direction into the festive season.
Originally reported by GoldsRate. Additional data from All India Bullion. Article compiled by the Deccan Age desk.
