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Mint
14 hours ago
- Business
- Mint
Gold prices offer a glittering 200% return in 6 years: Can the yellow metal continue to shower gains on investors?
Gold has delivered mouth-watering returns in recent years, significantly outperforming equities, thanks to heightened global economic uncertainty, monetary easing, persistent inflation, and strong demand from both central banks and retail investors. From May 2019 to June 2025, gold prices in India jumped from nearly ₹ 30,000 to over ₹ 1,00,000 per 10 grams despite intermittent corrections. This shows that gold prices have given a stellar return of over 200 per cent in about six years, compared to about 120 per cent return by the Nifty 50. Since 2015, gold has outperformed both the Sensex and the Nifty 50 most of the years. The table below shows the year-wise return of Nifty 50 and Sensex compared to MCX Gold in percentage terms. Gold and equity returns since 2015 Gold is considered a safe-haven asset, attracting investors during periods of economic uncertainty, high inflation, and geopolitical tensions. Over the past six years, a confluence of factors — including the COVID-19 pandemic, the Russia-Ukraine war, persistent inflation, slowing global economic growth, and aggressive central bank buying — have been key drivers of gold prices. More recently, a trade war triggered by US President Donald Trump's tariff policies has served as an additional catalyst for gold's bullish run. "Domestic Gold prices have shown a 200 per cent increase in the last six years. From May 2019 to June 2025, gold prices skyrocketed from ₹ 30,000 to over ₹ 1,00,000 per 10 grams," Motilal Oswal Financial Services observed. Geopolitical and policy-related uncertainties, particularly the US President's tariff stance, will remain a key driver of gold prices. Markets have yet to fully price in the unpredictability of trade policy. Additionally, interest rate cuts by the US Federal Reserve and other major central banks globally are likely to provide further support to gold. Experts believe that after delivering strong returns in the first half of the year, gold appears well-positioned to extend its gains in the second half as well. However, due to demand fatigue at higher levels, gold may see some profit booking before starting fresh uptrends. So, one may consider booking some profits at this juncture. For investors with a medium-term investment horizon, it makes sense to buy gold on dips as prices look ripe for corrections. Experts appear to be slightly cautious for the short to medium term. "Following our long-standing bullish stance on the yellow metal, we are now taking a cautious pause in July 2025 — without completely turning away from it," said Manav Modi, Analyst- Precious Metal Research at Motilal Oswal Financial Services. "While normal price fluctuations will continue, for gold prices to move beyond current all-time highs, the market requires fresh and significant catalysts. We are likely to see a period of price consolidation until the emergence of any decisive or longer-term triggers,' Modi noted. Anuj Gupta, the director of Ya Wealth, also recommends booking some profits. "Investors who entered gold five to six years ago may consider booking partial profits at current levels, as a short-term correction cannot be ruled out before the next leg of the rally," said Gupta. Gupta's year-end target is $3,500–$3,700 per troy ounce, with MCX Gold expected to trade in the range of ₹ $1,00,000– ₹ $1,03,000 per 10 grams by Diwali 2025 or the end of the calendar year. "Given the long-term bullish outlook, investors can either continue holding or exit partially and re-enter on dips. The yellow metal is poised to touch new highs over the long run," Gupta said. Ajay Garg, the CEO and director of SMC Global Securities, underscored that with the Fed likely to cut interest rates later this year, and ongoing trade wars slowing down economies worldwide, there's a growing worry about inflation, which could support gold. Garg further added that wars are already happening, and trade conflicts will keep pushing people to buy gold as a safe haven. Central Banks are expected to remain strong buyers of gold in 2025 as well. ETF buying is swelling too. Garg said gold may not see a huge drop, and one should buy on dips. "For gold, don't wait for a huge drop. The price is likely to find its own reasons to go higher. Buying gold when it dips a bit, perhaps around ₹ 96,000- ₹ 98,000 per 10 grams, would be a good move. We could even see gold hit a new record high of ₹ 1,05,000 in the second half of 2025," said Garg. Meanwhile, the recent moderation in gold could be attributed to a shift in investor preferences to other precious metals, such as silver and platinum. This trend may persist for some time, but is unlikely to keep gold under pressure for a longer period. "A shift in investor preferences is largely responsible for the recent sideways momentum. Investors appear to be more aggressive in silver and platinum, seeking short-term trading opportunities. Despite this change, we believe that gold's downturn appears limited, as uncertainties related to tariffs are likely to enhance gold's appeal as a safe haven," said Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities. Gandhi pointed out that the worsening economic and financial conditions, which are intensifying stagflationary pressures and rising US fiscal deficit, further reinforce this perspective. "The August 1 deadline is approaching, and so far, the US has secured fewer trade deals than Trump had previously claimed and the market had anticipated. We believe that the uncertainty and concerns surrounding the tariff rates could trigger a breakout in gold prices, leading to a rally in gold prices, as gold is viewed as the ultimate safe-haven asset during uncertain times," said Gandhi. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Mint
2 days ago
- Business
- Mint
Gold price today: Rates climb as focus remains on US trade talks; experts highlight these key levels for MCX Gold
Gold price today: Gold rates inched up in morning trade on Monday, July 21, as investors awaited fresh updates on negotiations between the US and its trading partners, while the dollar's weakness also supported the yellow metal. The dollar index declined over 0.10 per cent, making gold cheaper in other currencies. MCX Gold August 5 contracts traded 0.11 per cent higher at ₹ 98,127 per 10 grams around 9:10 AM. MCX Silver September 5 contracts were down 0.01 per cent at ₹ 1,12,937 per kg at that time. The focus remains on US trade negotiations as the August 1 deadline approaches. Persisting uncertainty over the tariff front remains a key support for gold prices. While talks between the US and the European Union continue, according to a Financial Times report, US President Donald Trump plans to impose a minimum tariff rate of 15 per cent to 20 per cent on any deal with the European Union. Meanwhile, investors are closely watching for greater clarity on the ongoing India-US trade negotiations, which remain stalled over several key issues. One major sticking point is India's stringent regulations, including mandates for vegetarian feed in cattle farming and its cautious stance on genetically modified (GM) crops, driven by environmental and health concerns. According to Manoj Kumar Jain of Prithvifinmart Commodity Research, gold has support at $3,340-3,327, while resistance is at $3,374-3,389 per troy ounce, and silver has support at $38.10-37.84, while resistance is at $38.70-39.10 per troy ounce in today's session. MCX Gold has support at ₹ 97,770-97,440 and resistance at ₹ 98,360-98,640 while silver has support at ₹ 1,12,200-1,11,400 and resistance at ₹ 1,13,650-1,14,500, said Jain. Jain suggests buying silver on dips around ₹ 1,12,200 with a stop loss of ₹ 1,11,450 for the target of ₹ 1,13,650-1,14,200. Rahul Kalantri, VP of commodities at Mehta Equities, said gold has support at $3,330-3,310 and resistance at $3,370-3,390. Silver has support at $37.85-37.55 and resistance at $38.45-38.65. In INR, Kalantri said gold has support at ₹ 97,680-97,450 while resistance is at ₹ 98,250-98,480. Silver has support at ₹ 1,12,180-1,11,450 while resistance at ₹ 1,13,750-1,14,500. Read all market-related news here
Mint
2 days ago
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on July 21
Gold and silver prices in your city on July 21: Gold prices zoomed up on July 21 (Monday) during early trade, as investors watch for trade negotiations between the United States and other countries. Experts opine that continued uncertainty over tariffs will likely buoy gold prices. Further, the US Dollar undex slipped 0.10 per cent today, bolstering flows into the yellow metal. MCX Gold August 5 contracts traded 0.11 per cent higher at ₹ 98,127 per 10 grams around 9.10 am; while the MCX Silver September 5 contracts were down 0.01 per cent at ₹ 1,12,937 per kg at that time. Overall, experts agree that gold and silver are safe haven bets that investors can make to safeguard their portfolios in these volatile markets and with increased risk aversion. Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹ 7,638 in 2005 to over ₹ 1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Year-to-date (YTD), gold prices have risen 31 per cent, with consistent Record highs solidifying its position among 2025's top-performing asset classes and a reliable hedge. Further, silver has also proved resilient. Prices have held above the ₹ 1 lakh/kg mark for the past three week. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent. The MCX gold index was at ₹ 98,520/10 gm at 11 am on July 21, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,13,255/kg, it showed. Further, 24-carat gold was priced at ₹ 98,950/10 gm, according to data on the Indian Bullion Association (IBA) at 11 am on July 21. Further, 22-carat gold was priced at ₹ 90,704/10 gms. Silver prices today are at ₹ 1,13,470/kg (Silver 999 Fine), as per the IBA website. So, check here gold and silver prices in your city today on July 21 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. • Gold bullion rates in Mumbai— ₹ 98,770/10 gm. • MCX Gold ratein Mumbai — ₹ 98,520/10 gm. • Silver bullion rate in Mumbai— ₹ 1,13,260/kg. • MCX Silver 999 rate in Mumbai — ₹ 1,13,255/kg. • Gold bullion rates in New Delhi— ₹ 98,590/10 gm. • MCX Gold rate in New Delhi — ₹ 98,520/10 gm. • Silver bullion rate in New Delhi— ₹ 1,13,090/kg. • MCX Silver 999 rate in New Delhi — ₹ 1,13,255/kg. • Gold bullion rates in Kolkata— ₹ 98,630/10 gm. • MCX Gold rate in Kolkata — ₹ 98,520/10 gm. • Silver bullion rate in Kolkata— ₹ 1,13,130/kg. • MCX Silver 999 rate in Kolkata — ₹ 1,13,255/kg. • Gold bullion rates in Bengaluru— ₹ 98,840/10 gm. • MCX Gold rate in Bengaluru — ₹ 98,520/10 gm. • Silver bullion rate in Bengaluru— ₹ 1,13,370/kg. • MCX Silver 999 rate in Bengaluru — ₹ 1,13,255/kg. • Gold bullion rates in Hyderabad— ₹ 98,920/10 gm. • MCX Gold rate in Hyderabad — ₹ 98,520/10 gm. • Silver bullion rate in Hyderabad— ₹ 1,13,460/kg. • MCX Silver 999 rate in Hyderabad — ₹ 1,13,255/kg. • Gold bullion rates in Chennai— ₹ 99,050/10 gm. • MCX Gold rate in Chennai — ₹ 98,520/10 gm. • Silver bullion rate in Chennai— ₹ 1,13,610/kg. • MCX Silver 999 rate in Chennai — ₹ 1,13,255/kg. Disclaimer: This story is for educational purposes only. 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.
Mint
6 days ago
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on July 17
Gold and silver prices in your city on July 17: Gold price halted its surge amid the Donald Trump vs Jerome Powell saga, and improved United States Dollar strength, in early trade today. In the international spot market, spot gold fell 0.3 per cent to $3,338.61 an ounce, while the dollar gained amid speculation about the future of Federal Reserve Chair Jerome Powell. Domestic futures market also fell, pressured by weak global cues and dollar pressure. Silver prices, however, climbed, supported by healthy spot market demand. Around 9.0 am, MCX Gold August 5 contracts were 0.30 per cent down at ₹ 97490 per 10 grams, while MCX Silver September 5 contract traded 0.10 per cent up at ₹ 1,11,748 per kg. Experts agree that longterm, gold and silver are safe haven bets, that can safeguard investors portfolios in these volatile markets. Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹ 7,638 in 2005 to over ₹ 1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Year-to-date (YTD), gold prices have risen 31 per cent, with consistent Record highs solidifying its position among 2025's top-performing asset classes and a reliable hedge. Further, silver has also proved resilient. Prices have held above the ₹ 1 lakh/kg mark for the past three week. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent. The MCX gold index was at ₹ 97,485/10 gm at 9 am on July 17, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,11,846/kg, it showed. Further, 24-carat gold was priced at ₹ 97,870/10 gm, according to data on the Indian Bullion Association (IBA) at 9 am on July 17. Further, 22-carat gold was priced at ₹ 89,714/10 gms. Silver prices today are at ₹ 1,11,990/kg (Silver 999 Fine), as per the IBA website. So, check here gold and silver prices in your city today on July 17 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. • Gold bullion rates in Mumbai— ₹ 97,570/10 gm. • MCX Gold ratein Mumbai — ₹ 97,485/10 gm. • Silver bullion rate in Mumbai— ₹ 1,11,820/kg. • MCX Silver 999 rate in Mumbai — ₹ 1,11,846/kg. • Gold bullion rates in New Delhi— ₹ 97,430/10 gm. • MCX Gold rate in New Delhi — ₹ 97,485/10 gm. • Silver bullion rate in New Delhi— ₹ 1,11,600/kg. • MCX Silver 999 rate in New Delhi — ₹ 1,11,846/kg. • Gold bullion rates in Kolkata— ₹ 97,470/10 gm. • MCX Gold rate in Kolkata — ₹ 97,485/10 gm. • Silver bullion rate in Kolkata— ₹ 1,11,640/kg. • MCX Silver 999 rate in Kolkata — ₹ 1,11,846/kg. • Gold bullion rates in Bengaluru— ₹ 97,680/10 gm. • MCX Gold rate in Bengaluru — ₹ 97,485/10 gm. • Silver bullion rate in Bengaluru— ₹ 1,11,880/kg. • MCX Silver 999 rate in Bengaluru — ₹ 1,11,846/kg. • Gold bullion rates in Hyderabad— ₹ 97,760/10 gm. • MCX Gold rate in Hyderabad — ₹ 97,485/10 gm. • Silver bullion rate in Hyderabad— ₹ 1,11,970/kg. • MCX Silver 999 rate in Hyderabad — ₹ 1,11,846/kg. • Gold bullion rates in Chennai— ₹ 97,860/10 gm. • MCX Gold rate in Chennai — ₹ 97,485/10 gm. • Silver bullion rate in Chennai— ₹ 1,12,130/kg. • MCX Silver 999 rate in Chennai — ₹ 1,11,846/kg. Disclaimer: This story is for educational purposes only. 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.
Mint
6 days ago
- Business
- Mint
Gold price drops on dollar's rise, silver rates rise; experts unveil strategy for precious metals
Gold price today: Gold rates traded lower in Thursday's early trade in the domestic futures market, pressured by weak global cues and an uptick in the US dollar. Silver prices, however, climbed, supported by healthy spot market demand. Around 9:05 AM, MCX Gold August 5 contracts were 0.30 per cent down at ₹ 97490 per 10 grams, while MCX Silver September 5 contract traded 0.10 per cent up at ₹ 1,11,748 per kg. The dollar's gain and easing tariff-related concerns weigh on gold prices. The dollar index climbed 0.20 per cent, making gold expensive in overseas currencies. Meanwhile, US President Donald Trump denied reports that he was planning to dismiss Federal Reserve Chair Jerome Powell, easing market concerns that Powell's removal would dent the credibility of the US financial system and the dollar's appeal as a safe-haven currency. Powell's term ends in May 2026. Trump has been criticising Powell for not lowering interest rates and, according to media reports, was exploring the possibility of removing him. The Fed, on the other hand, is expected to keep rates unchanged until at least September this year, even though the US Producer Price Index (PPI) remained unchanged in June. However, the US Consumer Price Index (CPI) in June surged to its highest level since February. On the tariff front, Trump said on Wednesday, July 16, that America was close to finalising a trade deal with India. According to Carsten Menke, Head Economics and Next Generation Research, Julius Baer, gold is consolidating as it is missing a trigger to restart the recent rally. "As a result of easing trade tensions and receding recession risks, safe-haven demand started to soften. Central bank buying is still sound, but not as strong as earlier in the year. We still see a longer-term favourable fundamental backdrop," Menke noted. Pointing out silver's recent rally, Menke said its catch-up potential to gold seems to be exhausted. "Judging by the strength of the recent rally and the decline of the gold/silver ratio to around 85, silver does not appear particularly cheap anymore in comparison to gold. When the ratio was at 100, we highlighted silver's catch-up potential, but this seems to be very much exhausted as of now. We lift our 3- and 12-month price targets to $37 and $40 per ounce, but nonetheless downgrade our view to neutral," said Menke. Manoj Kumar Jain of Prithvifinmart Commodity Research suggests buying gold and silver on dips. "We suggest buying gold on dips around ₹ 97,300 with a stop loss of ₹ 96,850 for the target of ₹ 98,100 and also suggest buying silver around ₹ 1,10,800 with a stop loss of ₹ 1,09,900 for the target of ₹ 1,12,800," said Jain. "Gold has support at $3,340-3,327, while resistance is at $3,374-3,389 per troy ounce, and silver has support at $37.80-37.40, while resistance is at $38.40-38.70 per troy ounce in today's session. MCX Gold has support at ₹ 97,440-97,100 and resistance at ₹ 98,080-98,400 while silver has support at ₹ 1,10,800-1,10,000 and resistance at ₹ 1,12,400-1,13,100," said Jain. According to Rahul Kalantri, VP of commodities at Mehta Equities, gold has support at $3,315-3,290 while resistance is at $3,360-3,380. Silver has support at $37.40-37.10 while resistance is at $38.20-38.45. In INR, Kalantri said gold has support at ₹ 97,320-96,980 while resistance is at ₹ 97,980-98,280. Silver has support at ₹ 1,10,280-1,09,450 while resistance at ₹ 1,11,950-1,13,000. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
