Gold and silver prices have continued their record-breaking rise in 2025, driven by strong safe-haven demand, central bank purchases, and global economic uncertainties. Ahead of Diwali, MCX gold reached a new high of ₹1,28,395 per 10 grams, while MCX silver hit ₹1,64,660 per kg.
This year, MCX gold has gained over 66%, and silver has surged nearly 87%, outperforming many other assets. Analysts remain optimistic but expect some volatility and corrections.
Gold’s recent rally is fueled by falling interest rates, rupee depreciation, and growing ETF inflows, alongside festival demand. Axis Securities’ Deveya Gaglani predicts gold could reach ₹1,50,000 by next Dhanteras, supported by ongoing economic uncertainty and potential rate cuts. Technically, gold’s upward trend remains strong with prices holding above key moving averages.
Silver’s rise is supported not only by safe-haven demand but also by industrial use, accounting for nearly 60% of consumption amid ongoing supply deficits. Motilal Oswal sees silver in a structural bull market, driven by green energy demand and limited supply, expecting prices to hit $75 by 2026. Both metals are likely to stay volatile but trend higher in Samvat 2082, making gold a hedge and silver a promising long-term investment.
