Hyderabad, Oct. 29 -- Gold rates, which reached an all-time high on January 29, 2026, have dipped by over 19 per cent in Hyderabad, driving people into a dilemma whether to buy the yellow metal or wait for a further dip.

Will gold rates in Hyderabad go up?

With the festival of Diwali next month, people are likely to buy the yellow metal, causing prices to rally.

Though in the short term, there might be a rise in demand in view of the festival, it is unlikely to impact the prices, as mainly global factors impact the rates.

Recently, Tang Yuxuan, head of Asia rates and foreign-exchange strategy at JPMorgan Private Bank, warned that gold prices could face further downside into early next year.

Though JP Morgan Global Research predicted ...