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GOLD AT ALL-TIME HIGH: FESTIVE TRADITION OR COSTLY AFFAIR?

The Free Press Journal - Mumbai

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September 26, 2025

Teji Mandi

Gold has delivered an extraordinary performance this year. On September 25, 2025, gold prices on MCX touched around Rs 1,12,400, compared to about Rs 73,000 in September 2024. Globally, prices surged to nearly $3,738 per ounce, almost double the levels seen in September 2023. Several key factors have fuelled this rally.

The Russia-Ukraine war in 2022 and ongoing geopolitical tensions in the Middle East involving Iran, Israel, and Palestine have reinforced gold’s role as a safe-haven asset. As uncertainty deepened, central banks across the world ramped up gold purchases, pushing demand and prices higher.

Demand Rising

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