Overview

• Gold prices in India crossed Rs 1 lakh per 10 grams for the first time on April 22, 2025, marking a significant milestone in the precious metals market.
• Since 2005, gold has appreciated by 1200%, with a 33% gain in 2025 alone, the strongest annual rally since the 1980s.
• Key factors driving the surge include geopolitical tensions, de-dollarization, central bank gold purchases, ETF inflows, and global interest rate cuts.
• The gold-silver ratio has exceeded 100, indicating silver's relative undervaluation; silver is currently priced at Rs 95,600 per kg on MCX.
• Analysts caution against buying gold at current elevated levels and suggest accumulating silver, supported by rising demand in solar and EV industries.