Silver and Gold price in Hyderabad have skyrocketed to unprecedented levels, with gold surpassing Rs 70,000 per 10 grams. On Thursday, 24-carat gold hit a record high of Rs 70,470 per 10 grams, marking a significant daily increase of Rs 600, the first time it has breached this mark in a year.
Similarly, silver prices surged to new heights, with 1 kilogram retailing at Rs 85,300, up by Rs 1,300 in a day, also marking a year-high. This surge is attributed to US Federal Reserve Chair Jerome Powell’s recent speech, hinting at potential interest rate cuts, which weakened the US dollar and boosted precious metal prices. Experts foresee further increases ahead of the upcoming US Federal Reserve meeting.
