NEW DELHI– Gold prices in India have skyrocketed by an astounding 200 percent over the past six years, rising from ₹30,000 to over ₹1,00,000 per 10 grams between May 2019 and June 2025, according to market analysts on Monday.
Motilal Oswal Financial Services Limited (MOFSL) reiterated its bullish stance on gold, citing ongoing geopolitical tensions and economic uncertainty as key drivers.
“Periods of heightened market volatility driven by inflation, global economic shifts, and geopolitical instability have all contributed to gold’s continued upward momentum,” said MOFSL in a research note.
“We’ve been fortunate to ride the gold rally since 2019,” said Manav Modi, Analyst for Precious Metals Research at MOFSL. “While we maintain our overall positive outlook, we’re exercising caution as of July 2025—not exiting our position, but awaiting clearer signals. For gold prices to break beyond current record highs, the market will need fresh and significant catalysts. Until then, we anticipate a phase of consolidation.”
Meanwhile, both gold and silver saw strong gains on Monday, the first trading day of the week. The price of silver once again crossed ₹1.13 lakh per kilogram, while 24-carat gold rose by more than ₹650.
On July 14, silver had hit an all-time high of ₹1,13,867 per kilogram.
According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold rose by ₹653 to ₹98,896 per 10 grams, up from ₹98,243 last Friday. Similarly, 22-carat gold increased from ₹89,991 to ₹90,589 per 10 grams, and 18-carat gold went up from ₹73,682 to ₹74,172 per 10 grams.
Silver prices climbed by ₹765 to ₹1,13,465 per kilogram, compared to ₹1,12,700 in the previous session.
Futures trading mirrored the bullish sentiment. On the Multi Commodity Exchange (MCX), the August 5, 2025, gold contract rose by 0.67% to ₹98,685 per 10 grams, while the September 5, 2025, silver contract increased by 0.93% to ₹1,14,001 per kilogram.
The rally in precious metals extends globally as well. On Comex, silver was up 1.16% at $38.91 per ounce, while gold gained 0.71% to reach $3,382.10 per ounce. (Source: IANS)
