Hyderabad: The rates of gold in Hyderabad reached a record high on Tuesday, September 30, marking their largest monthly surge in 14 years amid concerns over a potential US government shutdown and rising expectations for further Federal Reserve rate cuts. Current gold rates in HyderabadThe price of 24-carat gold (10 grams) and 22-carat gold (10 grams) rose to a new high of Rs 1,18,310 and Rs 1,08,450 respectively on Tuesday. Recent economic data has bolstered expectations for additional easing by the Federal Reserve. Traders are pricing in an 89 percent likelihood of a 25-basis-point cut at the upcoming Federal Reserve meeting, as reported by CME Group’s FedWatch tool. St. Louis Federal Reserve President Alberto Musalem said he was open to further rate cuts but the Fed must be cautious and keep rates high enough to continue to lean against inflation.