Hyderabad, March 23 -- Gold rates in Hyderabad and globally plunged sharply by over Rs 5000 on Monday, March 23, due to a global selloff amid rising inflation fears and a firm US dollar.

On the Multi Commodity Exchange, the yellow metal for April delivery slumped by Rs 8,089, or 5.6 per cent, to Rs 1,36,403 per 10 grams.

Gold rates in Hyderabad dipped

In Hyderabad, the rates of the yellow metal declined to Rs 1,40,020 and Rs 1,28,350 per 10 grams of 24-carat and 22-carat, respectively.

It is near the three-month low recorded on December 31, 2025. On that day, the rates were Rs 1,34,890 and Rs 1,23,650 per 10 grams of 24-carat and 22-carat, respectively.

Prediction of analysts

Analysts said the precious metal opened with a sharp gap ...