Gold Rate Today, Oct 21: Prices Skyrocket Across Andhra Pradesh and Telangana

Gold prices witnessed a massive jump today, leaving buyers across Hyderabad and the Telugu states stunned. In the city’s bullion market, the price of 10 grams of 24-carat gold surged by ₹2,080, taking the new rate to ₹132,770. Similarly, the price of 10 grams of 22-carat gold rose by ₹1,900, reaching ₹121,700.

This sharp rise in gold prices has come as a surprise to many, especially ahead of the festive and wedding season when demand for gold typically spikes. Market experts attribute the surge to global market trends, a weak rupee, and strong investor demand for safe-haven assets amid economic uncertainties.

While gold prices have soared, silver has shown a contrasting trend. The price of silver per kilogram is currently around ₹188,000 to ₹200,000, marking a drop of ₹18,000 in the past six days. Analysts suggest that the fall in silver prices could be due to lower industrial demand and profit-booking by traders.

Bullion traders say that, although the current surge in gold prices has dampened immediate buying sentiment, long-term investors still view gold as a stable and profitable investment. The rates across Andhra Pradesh and Telangana remain nearly identical, reflecting the national trend of rising gold prices.

With international gold prices expected to remain volatile, experts advise buyers to keep a close watch on market fluctuations before making any major purchases.