THE GOLDEN EUPHORIA

IN JUST 10 MONTHS, GOLD PRICES ARE UP 50% GLOBALLY AND 57% IN INDIA, RECORDING ONE OF THE STEEPEST CLIMBS IN RECENT MEMORY.

- NAVNEET DUBEY

GOLD'S GLITTER HAS never been brighter. In 2025, the yellow metal shone brightly in both global and Indian markets, setting new highs and reaffirming its position as a haven.

Gold prices on the London Bullion Market have soared from $2,625 a troy ounce (31 gm) on December 31, 2024, to $4,356 a troy ounce on October 20, 2025, a sharp year-to-date gain of nearly 66%. In India, the MCX spot price surged by more than 71%, from ₹75,913 per 10 gm on December 31, 2024, to a lifetime high of ₹1,29,828 on October 17, 2025. Despite the prices falling to ₹1,19,117 and $3,940 by October 30, on the back of weaker global cues, the dream run of the yellow metal continues as rates are up 57% in India and 50% globally over the past 10 months.

This steeper climb in Indian prices, according to Aksha Kamboj, vice president of the India Bullion & Jewellers Association (IBJA) and executive chairperson of Aspect Global Ventures, reflects the combined influence of a weaker rupee and the country's unwavering appetite for gold. Aspect Global, which is affiliated with the London Bullion Market Association, makes premium gold and silver products and has units in seven diverse sectors.

Over the past seven years, the story of gold has been nothing short of extraordinary. From $1,511 per troy ounce in October 2019 to $4,356 by October 2025, the metal's price has nearly tripled.