Gold and silver prices continue their record-breaking run in 2025, supported by robust safe-haven demand, central bank buying, and global economic uncertainties. Ahead of Diwali, MCX gold rates surged to a fresh lifetime high of ₹1,28,395 per 10 grams on Thursday, while MCX silver price hit ₹1,64,660 per kg.
So far in 2025, MCX gold price has delivered returns of over 66%, while MCX silver price has gained nearly 87%, significantly outperforming other asset classes. Analysts maintain a bullish outlook, though volatility and intermittent corrections remain likely.
Gold Price Outlook for Samvat 2082
Gold prices have witnessed a sharp rally since August, underpinned by safe-haven flows, falling interest rates, rupee depreciation, and aggressive central bank accumulation. Rising ETF inflows and festival demand have added momentum.
“On MCX, 24k gold may peak between ₹1,35,000 – ₹1,45,000 in Samvat 2082, with ₹1,50,000 possible under high-volatility stress scenarios,” said Jigar Trivedi, Senior Research Analyst at Reliance Securities. He expects gold prices to oscillate between ₹1,10,000 and ₹1,45,000 over the next Samvat year, with geopolitical tensions and USD weakness supporting prices. However, hawkish Fed signals, a stronger rupee, or policy interventions could cap upside.
Deveya Gaglani, Senior Research Analyst – Commodities at Axis Securities, also sees potential for further gains. “Ongoing uncertainty and possible interest rate cuts will likely support gold prices. We expect gold to reach around ₹1,50,000 by next Dhanteras,” Gaglani said.
From a technical perspective, gold’s parabolic uptrend remains intact, with prices consistently holding above the 20-day and 50-day EMAs.
Religare Broking noted that while overbought conditions could trigger short-term profit-taking, pullbacks toward ₹1,14,000 – ₹1,18,000 per 10 grams may offer buying opportunities. Upside targets remain at ₹1,35,000 – ₹1,42,000, while a sustained drop below ₹1,05,000 could indicate a deeper correction.
Silver Price Outlook for Samvat 2082
Silver price performance has been even more striking, driven by both safe-haven demand and strong industrial use. Unlike past speculative rallies, the current surge is backed by structural fundamentals. Industrial demand now accounts for nearly 60% of silver consumption, with supply deficits persisting for seven consecutive years.
According to Motilal Oswal Financial Services (MOFSL), silver is in a “structural bull market” supported by green economy demand, limited mine supply, and falling above-ground inventories. MOFSL expects international silver prices to consolidate around $50 – $55 per ounce in the near term, with potential to rise to $75 by 2026 and $77 by 2027.
MCX silver price could reach ₹2,40,000 per kg by end-2026 and ₹2,46,000 by 2027, assuming USD/INR levels of 90–92.
Outlook Ahead
Both gold and silver are expected to remain volatile but trend higher through Samvat 2082, aided by central bank demand, geopolitical risks, and industrial tailwinds. Analysts recommend a staggered investment approach, with dips offering accumulation opportunities.
For investors, gold continues to shine as a hedge against uncertainty, while silver’s dual role as a safe-haven and industrial metal makes it a compelling long-term bet.
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
