Gold prices in Visakhapatnam witnessed a sharp rise on April 22, 2025, mirroring trends in the international bullion market. The price for 10 grams of 22-carat gold surged to ₹92,900, while 10 grams of 24-carat gold climbed to an unprecedented ₹1,01,350. This surge marks one of the highest price points recorded in the city in recent months.

Market analysts attribute the rise to multiple global factors, including geopolitical tensions in Eastern Europe, fluctuations in crude oil prices, and heightened demand for safe-haven assets amidst global economic uncertainty. The weakening of the Indian rupee against the US dollar has also contributed to the increased cost of imported gold, pushing domestic prices upward.

Local jewellers in Visakhapatnam reported a noticeable slowdown in customer footfall due to the price hike, with many customers postponing purchases in anticipation of a price correction. However, investors and bullion traders remain active, viewing gold as a stable hedge against inflation and market volatility.

Goldsmith associations in the region have advised consumers to remain cautious and keep track of price trends before making large-scale investments, especially with the upcoming wedding season driving periodic demand spikes.

Financial experts suggest that the prices may remain volatile in the short term, urging buyers to follow market updates and consider systematic investment plans (SIPs) in gold to mitigate risks associated with price fluctuations.

Visakhapatnam, known for its vibrant jewellery market and traditional affinity for gold, continues to play a vital role in Andhra Pradesh’s bullion trade. As global uncertainties persist, the city’s gold market is likely to experience continued activity from both retail buyers and investors.