It's the perfect time for those planning to buy gold. After a continuous rally over the past few days, gold prices have finally taken a breather today. Strengthening of the Dollar in the international market and positive signals regarding Fed Reserve interest rates have led to a dip in bullion prices. In the Hyderabad and Vijayawada bullion markets, the price of 22-carat gold (10 grams) dropped by ₹800, trading at ₹68,500 today. Similarly, the price of 24-carat gold fell by ₹950 to reach ₹74,800.

Silver Follows Suit:
Following the trend of gold, silver prices also plummeted. The price of one kilogram of silver decreased by ₹1,500 and is currently trading at ₹88,000. With the wedding season in full swing, consumers are expressing relief at the price correction. Jewelry shops are witnessing increased footfall. Market analysts predict that prices might correct further in the coming days. However, they also caution that any escalation in geo-political tensions could trigger a rebound in rates.

Investment Opportunity:
Financial experts suggest that this dip provides a good entry point for long-term investors. They also recommend looking into Sovereign Gold Bonds (SGB) for better returns. Gold prices have also seen a downward trend in other major metro cities like Delhi, Mumbai, and Chennai today.