Gold prices keep falling, sales rise

Hyderabad: Gold prices continue to be on a downward spiral, and this has resulted in a marked increase in purchases over the last two weeks. Buyers are mostly purchasing jewellery and silverware.

Currently, the 22carat gold price is at Rs 23,200 per 10 gm, while that of 24 carat gold is at Rs 24,500 per 10 gm. The gold rate has been at a low for three weeks now and some sellers are offering lower prices individually.

Barely a month back, the prices were hovering around Rs 28,000 per 10 gm of 24 carat gold. However, gold merchants believe that the big buyers are still in a wait and watch mode.