By contrast, gold eased after four days of gains — 24-carat gold (10 gm) fell ₹1,784 to ₹1,20,845/10 gm, down from the record ₹1,22,629.
Year-to-date gains
- Gold: Up ₹44,683 so far in 2025 (from ₹76,162 on 31 Dec 2024 to ₹1,20,845).
- Silver: Up ₹76,126 since 31 Dec 2024 (from ₹86,017/kg to ₹1,62,143/kg).
How high can gold go?
A recent Goldman Sachs projection put gold at $5,000/oz next year — roughly ₹1.55 lakh per 10 gm at current rates. Brokerage PL Capital’s Sandeep Raichura says gold could touch around ₹1,44,000/10 gm.
Why gold has surged (major drivers)
1. Festive buying — demand for Diwali/Dhanteras jewellery remains strong despite high prices.
2. Geopolitical risks — tensions in the Middle East and global trade uncertainties are pushing investors toward safe-haven assets.
3. Central bank purchases — nations are adding gold to reserves to diversify away from the dollar.
Why silver is rallying
- Festival demand is supporting retail buying.
- Rupee weakness has raised import costs.
- Strong industrial demand (electronics, solar panels) is boosting consumption.
- A global supply shortfall is tightening the market.
Market view on investment
Ajay Kedia of Kedia Advisory warns that gold has risen about 60% this year, so short-term upside may be limited and many investors may book profits; however, he still sees long-term investment value.
Buying tips — two essentials
1. Buy certified (hallmarked) gold only: Look for BIS hallmark and the six-digit Hallmark Unique Identification Number (HUID) introduced from April 1.
2. Cross-check weight and rates: Confirm the exact weight (and carat — 24K, 22K, 18K) and check published rates (for example via IBJA) before purchase.
Quick note on purity: 24-carat is the purest form but too soft for everyday jewellery; most ornaments use 22-carat or lowe
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