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Gold has once again reinforced its reputation as a safe-haven asset, delivering remarkable returns over the past year and decade. According to a report cited by ET from Ventura Securities, gold has surged by over 200% in the last ten years and has offered a return of over 30% since Akshaya Tritiya 2024.
Last year, gold was priced at around ₹73,240 per 10 grams (24Kt) during Akshaya Tritiya. In 2025, it has risen sharply to trade in the range of ₹94,000–₹95,000 per 10 grams, marking one of the strongest annual rallies in recent memory.
Strong Outlook, But Caution Advised
Deveya Gaglani, Senior Research Analyst – Commodities at Axis Securities, noted that the first four months of 2025 have marked one of the best starts for gold investors in over a decade. Prices have already climbed nearly 25% this year alone. He attributed the bullish momentum to geopolitical tensions, central bank gold purchases, and a weakening dollar index.
Gaglani also highlighted that gold investors who entered during last year’s Akshaya Tritiya have gained over 31% so far. However, with prices nearing overbought levels, he advised caution. Investors are recommended to accumulate gold gradually, especially if there is a 5–10% price correction.
In a bullish projection, Gaglani expects gold to touch ₹1,10,000 if it sustains above ₹1,00,000. On the downside, prices may consolidate near ₹87,000.
Satish Dondapati, Fund Manager at Kotak Mahindra AMC, noted that recent corrections in gold prices were driven by profit-booking and renewed strength in the U.S. dollar. He added that short-term movements will depend on upcoming U.S. economic data, particularly inflation and job reports, which may influence the Federal Reserve’s interest rate decisions.
Despite the near-term fluctuations, both experts agree the long-term outlook for gold remains positive. Silver has also shown strength, supported by consistent industrial demand and its role as a hedge against economic uncertainty.
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