Hyderabad, Aug. 21 -- The gold rates in Hyderabad and other cities in India hit a three-month high on Friday, August 21.

In Hyderabad, the prices of 24-carat and 22-carat yellow metal reached Rs 1,60,480 and Rs 1,47,100 per 10 grams, respectively.

Why are gold rates surging in Hyderabad?

The gold rates in Hyderabad and other cities are increasing due to global reasons, as India is an importer of the yellow metal.

Globally, gold rates are going up mainly because investors are buying gold as a safe asset during economic uncertainty.

Another reason is changes in US interest rates, bond yields, and the dollar.

Currently, the gold rates in Hyderabad have crossed the three-month high. On May 25 this year, 10 grams of 24-carat gold cost Rs...