South India, where Hyderabad is situated, accounts for 40% of the country’s total gold jewelry demand. It is very important for the population to follow the gold rates, as the citizens of Hyderabad are one of the most active gold consumers in the region. This webpage shows today’s gold price in Hyderabad, updating the rate every single day.

The tables below illustrate both 24 carat gold price today and the price of 22 carat gold in Hyderabad. Therefore, you can estimate the fair gold price per gram when you’re buying physical gold in the form of bullion, coin, jewellery or another ornament.

Disclaimer: Please note that the given gold rates are indicative. They do not include GST, TCS and other taxes that may be incurred by your individual purchase. The exact price depends on your local jeweller or seller. The information contained herein shall not be deemed to be investment advice. Always consult your registered adviser to assist with your investments.

Why Is Gold So Popular in South India?

Global economies rise and fall. They face recessions, geopolitical turbulence and banking crises. Meanwhile, gold and other precious metals hold their value no matter what. Gold is respected and cherished around the world, but in Indian culture, it has a special place.

India is the second largest consumer of gold globally with annual gold demand of approximately 800-900 tonnes. People in India see gold as a good way to transfer wealth within the family. Gold is closely associated with many traditions and rituals in India.

For instance, when the auspicious Indian wedding season starts, it traditionally fuels the highest global demand for gold. Indian weddings are known for elaborate religious ceremonies, glamorous outfits, singing and dancing, and tons of jewellery and gold ornaments.

When the auspicious season starts, or right before it, the price of the ornamental metal grows due to increased demand. Not only the physical gold but also connected gold investment instruments change their price. They don’t always go in the same direction, though. For example, last October gold futures were trading low despite the surge in 22k and 24k gold.

As the middle class in emerging and developing economies such as India gradually becomes more prosperous, people have more money to spend and invest. Despite many innovative investment vehicles, gold remains an important part of the portfolio. Gold is traded actively at any exchange of India and local markets.

Why Gold Rate Varies in Different Cities

As you may know, domestic gold mining in India exists but at a very low level. Most gold in Hyderabad as well as other cities comes from abroad. When you import any quantity of gold, you get additional expenses for transportation and duties.

Gold price in India as a price of any imported commodity depends on many factors. These include supply and demand balance, geopolitical events, speculative trading practices, and government policies. In addition, gold prices are impacted by taxes that are incurred at many levels: state taxes, local city/region taxes, and transportation taxes.

To decide on the ultimate price, sellers take into account all additional costs. Such expenses may be connected with jewelry production or gold storage, for instance. Moreover, 22 carat gold price would depend on the price of other precious metals, as this type of gold is not 100% pure.

The gold rate in Hyderabad is volatile too. First, imported gold incurs an import duty of 10%, in addition to the 3% GST and 5% making charges GST. Second, gold price in Hyderabad is dependent on transportation costs as the city is far away from the seaports.

The Difference Between 24 Carat Gold and 22 Carat Gold

Typically, 24k gold is more expensive than the price of 22 carat. People who want to buy gold often wonder what the difference is. The answer is simple. It depends on how pure gold is.

The gold rate for 24 carat is always the highest because 24 carats are considered the finest gold standard with 99.9% purity. The fewer carats, the less gold is in a gram of gold metal mix.

Therefore, gold being 92% pure is classified as 22 carat gold. The rest 8% of the golden item may consist of other metals such as copper, silver, zinc, nickel, etc.

At the same time, higher purity of gold doesn’t mean the best quality for every use case. When you buy gold, you must pay attention to the karatage. Different karat gold serves different purposes.

Thus, gold in its purest form is a brilliant yellow colour but is not very durable and scratches easily. It is often seen in bullion and bars but rarely used for jewellery. Today, 24 carat gold is often used in making gold bars, coins, electronic devices, and medical equipment.

Pure gold is perfect for medical instruments with connector pins and electrical contact switches since it has excellent electric conductivity. Besides, it’s bio-compatible and doesn’t cause adverse reactions in contact with the human body.

However, when you purchase gold gold jewellery, you will most likely see a 22k probe. Today 22 carat gold is the most popular type of metal for wedding jewellery in India. This happens because mixing alloys hardens the texture of gold. Hence, ornaments and accessories become more durable and less prone to scratching or dents.

What Are 18 Karat Gold and 14K Gold?

If you’re looking to buy gold, you may also come across the 18 carat gold or even 14K gold. These gold types are comparatively more durable and less expensive than the most popular 22 carat and 24 carat.

18K gold has 75% pure gold mixed with other metals which can add colour to it. Originally, pure gold is bright yellow closer to orange, but adding nickel, silver, copper, zinc and palladium can make the colour of the gold jewelry white or rose.

14K gold is a mixture consisting primarily of gold (58%), blended with durable metals such as zinc, nickel and copper along with rhodium plating.

Both these types are used for many affordable engagement rings, eternity bands, pendants, earrings and other fine jewelry pieces. Since 14k gold is more durable than 18k, it’s more suitable for an active lifestyle.

Gold Is a Reliable Investment

Gold may not always maintain the same price, but it always remains valuable. Gold is considered a good hedge against geopolitical uncertainty and inflation. The gold reserves are an important part of India’s overall forex reserves.

The RBI is one of the top five central banks in the world currently buying gold. In FY 23 alone, the RBI’s gold reserves increased by 228.41 tonnes.

India also has its own reserve of sovereign gold bonds. These are government securities denominated in grams of gold. Instead of holding physical gold, investors pay the issue price in cash. Sovereign gold bonds (SGBs) are issued by RBI on behalf of the Government of India, making it a secure investment option. Besides, they have an additional interest of 2.5%, without any capital gains tax.

Whenever the RBI purchases gold, it can mitigate the losses from investments in US Government bonds that turned negative due to rising inflation in the US this year. During inflation, the demand for gold typically increases, and RBI can earn a good return despite economic distress.

Historically, owning gold is very profitable in the long run. Namely, the price of gold quadrupled over the last 100 years. The gold rate today on a global market is $1,919.07 per ounce, while in 1915 it was $588.45.

Not only for the central banks but also for individual investors gold is the best bet in case of geopolitical and economic crises like the ones we face today.

How to Invest in Gold

Many investors consider buying physical gold. There are dedicated markets for this asset. They receive gold in the form of bullion or gold coins. Many people in Hyderabad also buy jewellery as an investment in gold. However, gold investment in Hyderabad might as well involve gold-related financial products, e.g. gold futures or gold exchange-traded funds (ETFs).

Bullion and Coins

Bullion is the simplest form of gold investment in Hyderabad today. Bullions can be either gold or silver, sold in bulk before coining. They are most often shaped in bars or ingots and frequently used by governments and central banks as reserve assets.

Bullions are valued by their weight. They are made of the purest gold. Therefore, to understand the fair price of a bullion, you must know 24 carat gold rate.

The smallest gold bar weighs just one gram, but you can buy a bullion of 10 gram, 20 gram or even 1 kilogram. The largest gold bar in the world is 250kg. Worth about 12 million US dollars, the bar isn’t available for sale but can be viewed at the Gold Museum.

Investors can buy or sell bullion through dealers on several global bullion markets. They have a great supply of gold of all types. The dealers also sell gold coins, weighing between 1 to 10 gram. Today’s gold sales take place both offline and online.

Today in Hyderabad, many people also prefer investing via gold ETFs or futures contracts.

Gold ETFs

Gold ETFs are exchange-traded funds that give investors exposure to gold without having to directly buy gold in Hyderabad, store and resell the precious metal themselves. They are units representing physical gold in paper or dematerialised form. One Gold ETF unit is equal to 1 gram of gold. However, its price is not necessarily equal to the gold price per gram in Hyderabad.

ETF investment is backed by physical gold of very high purity. These investment products track the spot gold price closely. However, an investor must be aware of the gold rate today in Hyderabad to understand what part of the price belongs to the ETF management fees, insurance premiums, and storage costs.

Gold ETFs are listed and traded on the National Stock Exchange of India (NSE) and Bombay Stock Exchange Ltd. (BSE) just like corporate stocks. Gold ETF can be bought and sold through a dematerialised account (Demat) at market prices.

When you redeem Gold ETF, you don’t get 24-carat gold, but receive the cash equivalent. That is why you must check a gold rate calculator to know the 24 carat gold rate per gram at the time you redeem. If it is not favourable, perhaps, you can redeem your investment at a time when the 24k gold rate in Hyderabad better suits your needs.

To understand current trends in the Hyderabad gold rate, you may compare gold prices in Hyderabad for last 10 days. If you spot an ongoing rise for the last 10 days, perhaps, you can wait for the price to peak and redeem at a better rate. On the other hand, if the rate in Hyderabad for last few days has been falling, it’s not the best time to redeem at all.

Gold Futures

Gold futures are standardized exchange-traded contracts where the buyer and seller agree to trade a specific amount of gold at a predetermined price on a future date.

That means that buyers don’t pay the total price right away. The actual settlement happens on the gold futures expiring date. A typical delivery date is usually up to 3 months ahead.

Such flexibility in payment terms is attractive to many investors. However, one should be aware that gold futures can be volatile. There is always a chance for markets to crash or go through a phase of instability at some point in the future.

If you continuously track 24 carat gold rate in Hyderabad, you will see that the gold price per gram in Hyderabad for last three months has changed many times. The same volatility affects the gold futures market.

These financial instruments are not ideally suited for beginning investors. To avail of this offer, traders need a margin brokerage account which allows trading in futures and options.

Gold Jewellery Investment in Hyderabad

All luxury brands in India offer a range of stylish gold jewelry. Buying gold jewelry as a present is popular for different festive occasions: birthdays, weddings, anniversaries, baby births, and more. Both women and men wear golden rings, bracelets, earrings, necklaces and pendants. Accessories made of this precious metal fit every style and look. Even if the jewelry model is not trendy anymore, you can often exchange it for a new one.

Many Hyderabad gold jewelry stores offer an exchange service. That means customers can bring their old gold and get a new one. Using this service, you can easily upgrade your set of accessories.

Shop assistants will measure the purity of gold and weight of your golden piece with a special device – karatmeter. Depending on the karat of gold and the current price of gold in Hyderabad, the seller will offer a price for your old jewelry. If you know today 22 carat gold price, you can estimate the fair value of your ornament, whether it’s 1 gram of gold or 10 grams of 22 carat.

When you buy gold jewellery, you must make sure that it is hallmarked gold. The karatage and quality of the gold jewelry is ensured by hallmarks. It is a common standard in gold jewellery manufacturing and a guarantee for the customer. They can be found on the inside of the ornament (e.g. ring) and are laser-engraved. The gold hallmark should have such details: BIS logo, retailer’s logo, purity (916, 875 etc.), year of certification, and assaying centre’s logo.

FAQs on Gold Rate in Hyderabad Today

• Why does the?rate of gold in Hyderabad differ from other cities in India?

– The 24 and 22 carat gold price per gram in different cities of India may be similar but never equal. Gold prices in Hyderabad today depend on gold imports because India does not produce much of its own gold. Importing gold incurs many different taxes. Port cities may have lower costs of gold because the transport expenses are minimal. Hyderabad is one of the cities which do not have their own ports and are far from the sea coast, where gold arrives by ships.

At the same time, gold price today in Hyderabad depends on the changing demand. The amount of gold purchased in the city may alter in different seasons or different economic conditions. Those who want to sell gold in Hyderabad are the most attentive to the auspicious wedding season when the demand for gold spikes. Besides, gold price depends on the US dollar performance and FX course.

• Why there are different prices for 22 karat and 24 karat gold?

– There are different types of gold, depending on its purity. The purest gold is 24K, all other gold types have a lower percentage of gold included. That is why 22 carat gold price in Hyderabad or 18K gold rate is usually different than 24k. For instance, today the price per 10 gram of 24 carat gold is Rs 60,000, but 10 grams of 22 carat gold costs Rs 55,300. The price of 22 carat is lower because it’s 92% pure, while 24k is 99,9% pure. However, if you buy gold jewellery and ornaments, 22k gold is standard. It is more durable.

• Where can I find the live price of 22 and 24 gold in Hyderabad?

There are many online portals that update gold rates every day. Our website?www.dgmis.org?is one of the best resources to constantly check the price of 22 and 24-carat gold in real-time. It is the best way to know the gold price today.

If you continuously track the changing gold rates in Hyderabad, you may spot an opportunity when the gold rate hits a significant low, and purchase gold on the exact same day with great savings. On the contrary, when you want to sell old gold items, you will check today’s gold rate and look for the surge.

• Where can I buy or sell gold in Hyderabad?

– There are a lot of places which sell gold in India. Depending on the type of gold to buy, you may look for a bullion dealer or a jewellery shop. The main thing is that the items sold should be legitimate and authentic.

• How can I invest in gold in Hyderabad?

– You can buy pure gold in bullion, bars or coins. If you don’t want to store physical gold, you can also look at gold ETFs or gold futures. Be careful and consult your financial advisor to get a better understanding of how gold investment instruments work. Also, don’t forget to check the gold rate in Hyderabad before buying any type of gold or gold-tracking product to know whether the management fees or making fees are fair.