Gold Rate In Hyderabad Today

People in Hyderabad have a deep love for gold. In fact, the city of pearls, Hyderabad is home to a number of jewellery shops where you can find a wide collection of gold jewelleries according to the latest trends. So, listed below are the best places to buy gold in Hyderabad:

• Lalitha Jewellery Mart Pvt. Ltd.: Lalitha Jewellery Mart Pvt. Ltd. is one of the largest jewellery shops in Hyderabad and has branches in other cities of South India. You can find the latest collection of gold jewellery at this shop in Hyderabad.
• Kalyan Jewellers: Kalyan Jewellers has its branches in 124 different cities, including Hyderabad. You can find both antique and latest design gold jewellery at this renowned gold jewellery brand in Hyderabad.
• Manepally Jewellers: Another popular place to buy gold jewellery in Hyderabad is Manepally Jewellers. You can find different types of gold jewellery depending on the occasion as well as the latest trends.
• NBFCs: Apart from those mentioned above, you can also get loans from financial institutions such as SBI Gold Loan, IIFL Gold Loan, Muthoot Finance, and a few others.

It's only fair that you do everything you can to avoid going wrong when investing so much of your hard-earned money in gold. Right? So, to help you out in staying away from making some mistakes while buying gold in Hyderabad, we have jotted some things that you should always be mindful of:

• Check The Purity: The yellow metal, gold sometimes gets mixed with other metals that may affect its purity. So, whenever you invest in gold, always check the purity of gold which is measured in karats. 24 karat gold is the best in terms of purity and the purity descends as you buy 22 karats, 18 karats and so on.
• Don’t Go For Cheap Jewellery: Never opt for buying gold jewellery just because it is cheap as cheap doesn’t guarantee that you are getting the best quality of gold. So, always buy hallmarked jewellery regardless of its high price as hallmarked jewellery is not only durable and pure but also easy to sell.
• Resell Your Gold Ornaments To The Original Seller: During any medical emergency, financial crisis or unfortunate event when you need instant financial aid, selling gold is the best option. However, always sell the gold to the original jeweller as some of the jewellers offer a 100% pay-back policy during the time of reselling.
• Go To A Trusted Shop: Always buy gold from a trusted shop which is reviewed highly by customers to stay away from any kind of fraud. Talk to your jeweller and check the essentials such as weight, and price, before buying gold even from a trusted shop.

The demand for gold in Hyderabad is so high that the price keeps fluctuating. There are certain factors that play a role in determining the price of gold in Hyderabad. So, to know more about these factors, scroll through the section below:

• Demand-supply chain: If by any chance, there is a mismatch between the demand and supply chain, then the price of gold is sure to increase. The reason behind this is that when demand rises unexpectedly, only an increase in price can control the boom in demand. Even when the production in gold mines gets increased or decreases, the price of gold gets affected accordingly.
• Monsoon: The monsoon season can also largely affect the price of gold in Indian cities such as Hyderabad. Yes, you have heard it right! This is because when there is a bad monsoon, farmers will be unable to harvest more and in turn invest more in gold. For the unversed, the rural demand for gold accounts for 60% of the total consumption and as the rural demand is affected by the monsoon, so is the price of gold elsewhere.
• Value Of US Dollar: Whenever there are chances of weakening the dollar, then investors start to look for safe investments such as gold. Moreover, US Dollar and gold price have an inverse relationship to follow which means the moment the value of the US Dollar weakens, the gold price shoots up.
• Cost Of Import Duty: India is one of the largest consumers of gold in the world, so when the import duty increases, the price of gold also increases.