How Did Gold Prices Skyrocket by 200% in 6 Years?
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Synopsis
Gold prices in India have soared by 200% over six years, reaching over Rs 1,00,000 per 10 grams. This article explores the factors contributing to this dramatic rise and the current trends in precious metals.
Key Takeaways
- Gold prices surged by 200% in the last six years.
- Current price of 24-carat gold is Rs 98,896 per 10 grams.
- Silver prices exceeded Rs 1.13 lakh per kilogram.
- Market uncertainties continue to impact precious metals.
- Experts anticipate a period of price consolidation.
New Delhi, July 21 (NationPress) In the last six years, the value of gold in India has witnessed a remarkable surge of 200%, soaring from Rs 30,000 to over Rs 1,00,000 per 10 grams from May 2019 to June 2025, analysts reported on Monday.
Motilal Oswal Financial Services Limited (MOFSL) has reaffirmed its optimistic perspective on this precious metal, especially in light of ongoing geopolitical tensions.
The market has experienced periods of heightened uncertainty in recent years, driven by inflationary pressures, shifts in the global economy, and geopolitical unrest, which are anticipated to continue influencing gold prices, according to MOFSL.
“Having been a part of the gold rally since 2019, we maintain a bullish outlook on the yellow metal, even as we adopt a cautious stance this July 2025,” stated Manav Modi, Analyst, Precious Metal Research at MOFSL.
“While we can expect normal price variations, significant new catalysts will be essential for gold prices to surpass current all-time highs. We foresee a phase of price consolidation until decisive, long-term factors emerge,” Modi added.
On the first trading day of the week, both gold and silver prices experienced notable upticks. Silver prices once again exceeded Rs 1.13 lakh per kilogram, while 24-carat gold saw an increase of over Rs 650.
Previously, on July 14, silver reached a record high of Rs 1,13,867 per kilogram.
The price of 24-carat gold rose by Rs 653, reaching Rs 98,896 per 10 grams, up from Rs 98,243 the preceding Friday, as per the India Bullion and Jewellers Association (IBJA).
Similarly, the price of 22-carat gold climbed from Rs 89,991 to Rs 90,589 per 10 grams, while 18-carat gold increased from Rs 73,682 to Rs 74,172 per 10 grams.
Silver prices also rose, up Rs 765 to Rs 1,13,465 per kg from Rs 1,12,700 in the previous session.
The futures market followed suit with upward trends. The August 5, 2025, gold contract on the Multi Commodity Exchange (MCX) increased by 0.67% to Rs 98,685 per 10 grams, while the September 5, 2025, silver contract rose by 0.93% to Rs 1,14,001 per kg.
Globally, precious metals are gaining traction. Silver increased by 1.16% to $38.91 per ounce on Comex, while gold rose by 0.71% to $3,382.10 per ounce.
Point of View
We at NationPress recognize the significant shift in gold prices and the implications for investors and consumers alike. This trend reflects broader economic conditions and the need for informed decision-making in financial investments.
NationPress
21/07/2025
Frequently Asked Questions
What caused the surge in gold prices?
The rise in gold prices is attributed to factors such as inflation, global economic shifts, and geopolitical instability.
How much have gold prices increased over the last six years?
Gold prices in India have increased by an astounding 200%, rising from Rs 30,000 to over Rs 1,00,000 per 10 grams.
What are the current prices of 24-carat gold?
Currently, the price of 24-carat gold is Rs 98,896 per 10 grams, following a rise of Rs 653.
How did silver prices perform recently?
Silver prices have also seen significant increases, surpassing Rs 1.13 lakh per kilogram once again.
What trends are expected in the gold market?
Experts suggest that while price fluctuations will continue, significant catalysts are required for gold to exceed current all-time highs.
