Gold set to extend record run; may hit Rs 90,000 in 2025 on global cues
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue. Also aiding the run is a dovish tilt in monetary policy and buying by central banks, but if the geopolitical crisis eases, the precious metal will turn weak on depreciating rupee.
Gold price is hovering at Rs 79,350 per 10 grams in spot markets at present, and Rs 76,600 per 10 grams in futures trade on the Multi Commodity Exchange (MCX).
The precious metal capped off 2024 on a strong note with its best performance, notching 23 per cent returns in the domestic markets. The yellow metal hit an all-time high of Rs 82,400 per 10 grams on October 30 this year. Silver mirrored this stellar performance with a 30 per cent gain, surpassing the Rs 1 lakh level per kg level.
Globally, Comex gold futures started the year at around USD 2,062 per ounce and rallied to a peak of USD 2,790 per ounce on October 31, giving returns of up to 28 per cent, reinforcing their appeal amid global uncertainties.
Experts believe that precious metals remain strong performers in 2025 as well, buoyed by geopolitical tensions, central bank purchases, and a pivot towards lower interest rates by major central banks.
Stock Trading
Masterclass on Value Investing and Company Valuation
By — The Economic Times, Get Certified By India's Top Business News Brand
Stock Trading
Market 104: Options Trading: Kickstart Your
