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India
Hyderabad witnessed a historic milestone on Tuesday as gold prices crossed ₹1 lakh per 10 grams for the first time, intensifying concerns for buyers amid the ongoing wedding season. The steep hike comes in the backdrop of rising global trade tensions and a weakening US dollar, pushing investors towards gold as a safe-haven asset.
As of now, 10 grams of 22-carat gold is priced at ₹92,900, while 24-carat gold stands at ₹1,01,350. Just ten days ago, on April 8, the same quantities were priced at ₹82,250 and ₹89,730 respectively—marking a sharp 12.9% increase within days.
The price rally has been consistent since the start of 2025. In January, 22-carat gold was available for ₹71,500 and 24-carat gold for ₹78,000. In less than four months, gold has appreciated by over ₹23,000 per 10 grams, offering a return of nearly 29%.
Despite the wedding season’s high demand, many buyers are holding off. Hussain, a resident of Bahadurpura, said he has postponed gold shopping despite upcoming weddings in the family, hoping for a price correction. Another resident, Jameel Khan from Attapur, echoed the sentiment, saying he plans to wait a few more months before buying.
The gold price surge is not limited to Hyderabad. Other major cities like Mumbai, Delhi, and Bengaluru have also reported similar spikes, driven by growing uncertainty in global markets and investor flight to safety.
