Hyderabad, May 2 -- The gold rates in Hyderabad declined by over five percent after surging beyond the Rs 1 lakh mark. Last month, the rates broke all-time records nine times.

The current gold rates in the city are Rs 87,550 and Rs 95,510 per 10 grams of 22-carat and 24-carat yellow metal.

On January 1, the rates were Rs 71,500 and Rs 78,000 per 10 grams of 22-carat and 24-carat yellow metal. This translates to a surge of over 22 percent in the current year.

Future gold rates in Hyderabad

In view of the huge surge, people have delayed their purchase of the yellow metal, expecting a price fall.

Now, as the rates have dipped by over 5 percent from the all-time high, people have started considering buying the yellow metal.

Meanwhile, e...