Big gains seen for gold, silver: ICICI Securities' projections set at Rs 85k and Rs 1,10,000 for CY25
safe-haven buying in gold, domestic brokerage firm ICICI Securities believes that the prices may hit Rs 85,000/10 g while silver prices may rally to Rs 1,10,000/kg, backed by rising industrial demand in the calendar year 2025.
The domestic brokerage firm, in its report, stated the expectation of gold prices to rise towards the said target due to strong central bank buying and trade war concerns whereas silver’s rally towards the Rs 1,10,000 target is backed on expectations of market deficit and industrial demand.
Here is a detailed view of ICICI Securities on the bullion:
Outlook on gold
Internationally, gold prices are expected to continue their upward trend, potentially reaching $2,900-$3,000 in the coming months.
Supporting factors include continued monetary easing by major central banks and ongoing central bank gold purchases for reserve diversification. While a strong dollar and rising US Treasury yields may present headwinds, central bank buying (186 tonnes in Q3CY24 and 694 tonnes YTD) and renewed ETF inflows expected in 2025 due to trade war anxieties support the bullish outlook.
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