GOLD, SILVER RATES IN HYDERABAD       

We have no doubt about the fact that India is the largest consumer of gold in the world. India’s affair with gold has been since ages. Roughly estimated, 700 tonnes or about 33% of the total gold mined in the world is consumed in India, which makes India the biggest importer of gold. We have been buying gold since generations whether it’s for marriage or for investment. According to a study, roughly a middle class household buys Rs 5-15 lac’s worth of gold jewellery in a lifetime. We Indians are so fond of gold that all we need is a reason to buy this precious asset.

WHY DO INDIANS BUY SO MUCH OF GOLD

The biggest reason for buying gold jewellery is rooted in our culture especially during weddings. We have gone through lots of changes but the tradition of buying gold on the wedding has not changed at all. Though our newer generation is not so much fond of buying gold jewellery but then also the demand of gold jewellery has not decreased. Many of us still may not understand the reason; let me explain it in other terms!!

Beside from this culture and tradition, we buy gold because it provides us economic safety. Gold is known as wealth preserver. Gold value always grow no matter what!! We all find gold as a safe and simple investment. The other investment alternatives like real states, equities and share are out of reach or not a trust worthy option for an average Indian and that the biggest reason why we invest in gold. Beside a great investment option it is a wearable wealth too, for some show off!!

GOLD RATE IN HYDERABAD

Shopping especially Gold, Silver and Diamonds is not so easy these days because of price touching sky. Gold rate in Hyderabad as of today is Rs.2,456 (1g 22 karat) and Rs.2,619 (1g 24 karat). Some around 10 years back the gold was in affordable range 6500 per 10 grams. But our tradition and culture can stop us buying this precious metal irrespective of its price. In Hyderabad people buy gold on every special occasion, be it marriage or any other. So I would like to share some tips which you must take care of, while buying gold.

l  It is always a best and better option to buy gold from shops which are very well famous and holds BIS Hallmark on its products.

l  Always take a receipt or proper bill of the jewellery purchased, even if they demand some extra amount, because bill is the only proof that we have.

l  Most of the shops cheat customers by using words like making charge, wastage etc, you need to bargain tactfully on that.

So just be very careful and wise while making gold purchase.

SILVER RATE IN HYDERABAD

Silver is a very affordable metal as compared to gold. Today’s Silver rate in Hyderabad per kg is Rs. 38,364. Popular among our culture and most used in making jewellery this metal is often known as “ common man’s gold”.