Hyderabad Gold Prices Steady at ₹15,890 Ahead of Dussehra and Diwali

Hyderabad's Secunderabad jewellery quarter is abuzz with discussion about gold prices ahead of the festival season. Despite knowing that gold is expensive, buyers are wondering whether its price will dip before Dussehra and Diwali in October and November.

The current 24-karat gold rate in Hyderabad is ₹15,890 per gram, matching rates across major Indian cities. The global benchmark Comex spot has been steady above $3,500 per troy ounce for weeks, despite predictions that it would dip.

The World Gold Council's demand data shows India's appetite for gold running above historical norms, driven by retail pre-festival stocking and continued Reserve Bank of India reserve accumulation. The RBI's gold buying has provided a floor under domestic prices independent of retail sentiment.

Investors in Hyderabad are purchasing gold as a dollar hedge rather than for its cultural role in gift-giving, which is less price-sensitive and more driven by portfolio logic. Dealers report that some customers are spreading their purchases across August and September to hedge against the possibility of a price correction before the festival.