Mumbai, Oct 13 (NationPress) The remarkable ascent of gold persists into 2025, as analysts forecast that prices may soar to Rs 1.3 lakh per 10 grams this Dhanteras, with the potential to hit Rs 1.5 lakh by the start of 2026.

This increase is fueled by global economic instability, robust central bank purchases, and anticipated interest rate reductions that are bolstering demand for the precious metal.

Market analysts commented, "Continued strong buying from central banks and ETFs, even at peak prices, combined with diminishing confidence in fiat currencies amid forthcoming rate cuts, will sustain elevated gold prices."

Currently, on the Multi Commodity Exchange (MCX), gold prices reached Rs 1,22,284 per 10 grams for the December contract this week. Analysts attribute this rally to global economic concerns, geopolitical conflicts, and rising optimism regarding interest rate reductions by the US Federal Reserve.

They emphasized, "A weakened US dollar has made gold more accessible for investors holding various currencies, further enhancing demand."

This Monday, gold and silver prices continued to rise amidst escalating tensions between the US and China. In early trading, MCX Gold December futures were up 1.62 percent at Rs 1,23,313 per 10 grams, while MCX Silver December futures increased 3.44 percent to Rs 1,51,577 per kg.

On a global scale, spot gold achieved a record high of over $4,060 per ounce on Friday, marking its eighth consecutive weekly increase, while silver rose by 1.1 percent nearing $51 per ounce.

This latest uptick occurs as the US and China engage in sharp exchanges regarding trade tariffs. On Sunday, China implored the US to cease threats of new tariffs and return to the negotiating table, warning of retaliation if new measures are implemented. Over the weekend, US President Donald Trump, who had previously threatened 100 percent tariffs on Chinese imports, appeared to soften his rhetoric in his latest statements.