Gold prices in India surged to a fresh lifetime high on Friday, driven by heightened global uncertainty and strong safe-haven demand. On the Multi Commodity Exchange (MCX), gold touched an intraday peak of ₹1,40,465 per 10 grams before settling slightly lower at ₹1,39,940.
Market experts believe the rally still has room to run. If gold decisively breaks above ₹1,45,000 on a closing basis, prices could move towards ₹1,50,000 per 10 grams, possibly before the end of 2025.
According to data from bullion markets, the 24-carat gold rate in Delhi is quoted at ₹1,39,790 per 10 grams, reflecting a premium of about ₹150 over the February 2026 MCX futures contract. The 22-carat gold price in the national capital stands at ₹1,28,141 per 10 grams.
Global cues remain supportive. COMEX gold climbed to a new all-time high of $4,584 per troy ounce, marking a sharp rally of nearly 75 percent from its 52-week low of $2,608.40 per ounce.
Analysts point out that MCX gold has moved above a key technical breakout level near ₹1,39,000. As long as prices remain above this zone, the broader trend remains bullish.
Experts expect gold to first test ₹1,45,000 in the near term. A sustained close above this level could open the door to ₹1,50,000, although some profit booking is likely around ₹1,45,000 before the next leg of the rally.
Ponmudi R, CEO of Enrich Money, said gold continues to act as a crucial hedge amid elevated global risks.
“Gold remains the anchor hedge in a highly uncertain global environment. Currency stability, geopolitical risks and global risk flows will continue to drive prices in the coming weeks. Silver, meanwhile, is emerging as a high-beta outperformer and is also supporting the broader precious metals rally,” he said.
He added that MCX gold is maintaining a strong uptrend marked by higher highs and higher lows. “A sustained move above ₹1,39,000 has opened the path towards ₹1,40,000–₹1,45,000, while strong support lies in the ₹1,36,000–₹1,35,000 range.”
Anuj Gupta of Ya Wealth, said the key trigger to watch is a confirmed breakout above ₹1,45,000.
“If gold breaks above ₹1,45,000 on a closing basis, it could trigger a fresh upside towards ₹1,50,000 per 10 grams. Some profit booking is expected at ₹1,45,000, but the underlying triggers remain intact,” he said.
With only a few trading sessions left in 2025, Gupta noted that the timing of the breakout will be crucial. “If the breakout happens early in the week, the chances of gold touching ₹1.50 lakh within this calendar year remain high. The ongoing strength in silver prices is also acting as a catalyst for gold.”
(By arrangement with livemint.com)
