Hyderabad: Gold rates in Hyderabad and other cities in India dropped by Rs 11,190 to Rs 1,21,580 per 10 grams from the all-time high.

On Tuesday, the prices slipped below USD 4,000 an ounce in the global markets as easing US-China trade tensions dampened the safe-haven appeal.

Reasons for dip

As per experts, gold continues to trade under pressure on reduced safe-haven demand due to US-China trade deal optimism.

Due to the optimism, the gold rates are declining not only in Hyderabad but in all other cities.

Meanwhile, US President Donald Trump and his Chinese counterpart Xi Jinping are set to finalize the trade deal framework, with likely follow-up meetings. Trump also expressed confidence in a trade agreement with Japan, which also weighed on bullion prices.

The impact is also seen

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