Gold prices in Hyderabad climbed to a three-month high on Friday, with 24-carat gold reaching Rs 1,60,480 per 10 grams and 22-carat gold touching Rs 1,47,100 per 10 grams. The rise reflects a broader nationwide trend, driven by strong global demand for gold as investors seek safer assets during ongoing economic uncertainty. Since India imports most of its gold, international market movements continue to have a direct impact on domestic prices.

Market experts attribute the rally to a combination of factors, including uncertainty in the global economy, fluctuations in US interest rates, bond yields, and the strength of the US dollar. Gold prices had dropped sharply in early July before staging a strong recovery over recent weeks. Analysts say the precious metal remains attractive to investors looking to protect their wealth from market volatility.

The bullish sentiment was also visible in futures trading, where gold contracts for October delivery on the Multi Commodity Exchange (MCX) rose to around Rs 1.60 lakh per 10 grams. Internationally, gold futures also posted gains in New York, reflecting sustained buying interest. Experts believe the future direction of gold prices will largely depend on global economic developments, geopolitical tensions, and upcoming financial data.