Gold has long held a special place in the hearts of Hyderabadis. It’s more than an ornament—it’s a symbol of security, prosperity, and tradition. But as of May 2025, the glittering metal has reached record-breaking prices, creating ripples across homes, jewellery stores, and financial circles. With 22-carat gold touching nearly ₹90,000 per 10 grams and 24-carat inching close to ₹98,000, the buzz around rising gold prices is louder than ever in the streets and stores of Hyderabad.
A Cultural Tradition Under Pressure
In Telangana, especially in Hyderabad, gold is deeply tied to wedding rituals, festivals like Akshaya Tritiya, and family heirlooms. For many middle-class households, buying gold is considered a sacred obligation during life events. However, with rates soaring to all-time highs, families are beginning to reassess their plans.
Lakshmi Devi, a homemaker in Kukatpally, shares her frustration: “My daughter’s wedding is in June. We had set aside a budget for gold, but now it’s not enough. We’re having to cut back on the quantity and designs.”
Stories like hers are becoming increasingly common. The surge in prices is forcing families to downsize their purchases, delay weddings, or shift their focus to alternative gifting options.
Jewellery Stores Feel the Heat
Local jewellers across areas like Abids, Himayatnagar, and Banjara Hills are witnessing a shift in customer behaviour. While footfall hasn’t dropped drastically—thanks to the upcoming wedding season and religious ceremonies—purchases have become more conservative.
Ramesh, a jewellery shop owner in Basheerbagh, explains: “People still walk in, especially those who have planned events. But instead of buying 100 grams, they’re settling for 60 or even 40 grams. Lightweight jewellery is in demand now.”
He also notes an increase in inquiries about gold coins and digital gold. Consumers are looking for flexible, smaller investments instead of traditional heavy necklaces and bangles.
Young Buyers Rethink Their Gold Strategy
Millennials and Gen Z in Hyderabad are reacting differently. While earlier generations viewed gold mainly as a family asset or dowry item, younger buyers are now seeing it through an investment lens.
Shreya, a 27-year-old software engineer in Gachibowli, says, “I used to buy gold jewellery during festivals. Now, I’ve shifted to buying digital gold in small amounts monthly. It’s practical, and I don’t have to worry about storage.”
This shift in perspective is giving rise to modern gold buying platforms, making investment easier and more structured than the conventional way.
Gold as a Financial Safety Net
For many investors in Hyderabad, the gold rush is not a surprise—it’s an opportunity. With uncertainty in stock markets and global economies, gold continues to be a safe haven. Several financial consultants report a steady increase in gold-related investment consultations, especially in areas like Banjara Hills and Jubilee Hills, where clients look to hedge their wealth.
Krishna Reddy, a senior financial advisor, notes: “High net-worth individuals are increasing their allocation to gold—both physical and ETFs. It’s seen as a hedge against inflation and market instability.”
Even average investors are showing more interest in gold mutual funds and gold-backed bonds, indicating a slow but steady diversification from traditional FDs and real estate.
Old City Buyers Stick to Traditions
Despite price spikes, buyers in areas like Charminar, Pathergatti, and Mangalhat remain loyal to traditional buying habits. These neighbourhoods, known for their bustling gold markets, are seeing a slightly different trend.
Mubeen Bhai, who runs a decades-old gold shop near Laad Bazaar, says, “Our customers save year-round to buy gold for weddings. Even if prices are high, they buy. For them, it’s not just metal—it’s izzat (honour). They may buy less, but they will not skip it.”
These buyers are sticking to the cultural value of gold, even if they’re compromising on weight or opting for older, resale jewellery options.
Jewellery Rentals and Second-Hand Gold on the Rise
As prices rise, many Hyderabadis are opting for jewellery rentals for weddings and functions. This emerging trend allows families to wear elaborate gold ornaments without the financial strain of ownership.
Nisha, a wedding planner from Miyapur, says, “Gold rentals have picked up big time. Brides can choose designer sets at a fraction of the price and return them the next day. It’s practical and cost-efficient.”
Similarly, resale and exchange counters are seeing an increase in walk-ins. People are bringing in old or unused gold jewellery to exchange for lighter, modern pieces.
Jewellers Offering EMI and Trade-In Options
To keep up with the changing market, jewellers are adapting. Some are offering zero-interest EMI schemes, gold saving plans, and even buy-back guarantees to attract hesitant customers. This approach is helping retain trust and encouraging planned gold purchases without immediate pressure.
Satish, who runs a prominent jewellery outlet in Ameerpet, shared, “Our gold saving schemes are gaining traction. Customers deposit monthly amounts and buy gold after a year, which protects them from sudden price hikes.”
What’s Driving the Surge?
Although many buyers are reacting emotionally or practically, the price surge is a result of broader forces. International geopolitical tensions, weakening global currencies, rising inflation, and increased central bank demand are all influencing gold rates. The current economic landscape makes gold a reliable fallback, and Hyderabad is not immune to this global sentiment.
While most buyers aren’t interested in global politics, they are feeling the pinch at home. The increase in gold price affects wedding budgets, festival shopping, and even day-to-day financial decisions.
Will Prices Come Down?
This is the question everyone is asking. Experts in Hyderabad believe prices may continue to remain high in the short term due to persistent global demand and limited supply. However, periodic corrections are expected based on market movements.
People planning long-term events are advised to stagger their purchases, monitor local price trends, and consider alternatives like gold bonds or jewellery with lower making charges.
Hyderabad’s love for gold remains unshaken, but the way people interact with it is changing. As prices hit record highs, locals are finding ways to adapt—some by reducing their quantities, others by exploring digital options or renting. The traditional significance of gold isn’t fading, but its role in modern life is being redefined.
Whether it’s a bride in Secunderabad choosing to wear rented ornaments or a software professional in Madhapur investing in digital gold, the city is adjusting to the new reality. Through all the changes, one thing remains clear: in Hyderabad, gold is not just a metal—it’s a way of life.
