Gold prices in Hyderabad eased lower on Friday, January 31, following a broad selloff in domestic and global bullion markets. After strong gains over recent weeks, profit booking and a firmer US dollar weighed on gold, dragging down local retail rates.
📍 Latest gold rates in Hyderabad today (per gram)
| Gold Purity | Rate in Hyderabad (Jan 31) |
|---|---|
| 24-carat gold | ₹16,058 |
| 22-carat gold | ₹14,720 |
| 18-carat gold | ₹12,044 |
These rates reflect current retail pricing in Hyderabad and may vary slightly across jewellers depending on making charges and taxes.
What caused the fall in gold prices?
Gold’s weakness in Hyderabad followed steep selling in both domestic and international markets:
- On the domestic futures market, gold February 5 contracts recorded substantial losses, settling sharply lower after intense selling pressure.
- In the international market, COMEX gold futures plunged by $591 to close at $4,763 per ounce, pressured by a strong rebound in the US dollar and changing expectations around interest-rate policy.
Market participants said the correction was driven by profit booking after an extended rally, which had pushed gold prices into technically overbought territory. The sudden reversal in sentiment triggered broad unwinding of positions, leading to increased volatility.
Gold prices in Hyderabad continue to be influenced by global spot rates, currency movements, import duties and local demand trends, and traders expect volatility to remain elevated in the near term.
Gold rates mentioned above are indicative retail prices and do not include GST, TCS or other levies. Actual prices may differ slightly across different jewellers.
Disclaimer: This information is for informational purposes only and should not be considered financial or investment advice. Always conduct your own research or consult a financial advisor before making investment decisions.
