Gold Prices in India: Weekly Outlook (Feb 23-28) - Will the Rally Continue?
Gold prices in India have been on a strong upward trajectory, surging for seven consecutive weeks amidst global uncertainties. This analysis provides a weekly outlook for gold and silver prices in India from February 23 to 28, 2025.
Gold and Silver Price Range
Experts predict that gold and silver may trade within the following ranges:
- Gold: Rs 84,500 - Rs 86,500 per 10 grams
- Silver: Rs 94,000 - Rs 98,000 per kilogram
Recent Performance
Last week, gold prices in India reached a new all-time high of Rs 88,040 per 10 grams before slightly retreating. On the MCX, gold hit a record high of 86,592, while silver closed above 97,000.
Current Gold Prices (February 22)
- 24K Gold: Rs 87,770 per 10 grams
- 22K Gold: Rs 80,450 per 10 grams
- 18K Gold: Rs 65,820 per 10 grams
Gold prices have surged by nearly 4% so far in February.
Silver Prices
The price of silver in India is currently at Rs 100.50 per gram and Rs 1,00,500 per kilogram.
MCX Gold and Silver Prices
Last week, MCX gold (April 2025) stood at Rs 86,020 per 10 grams. MCX silver (March 2025) closed at Rs 96,156 per kilogram.
Spot Gold Price
Trading Economics reported that spot gold traded around $2,930 per ounce on Friday, near its record high of $2,950. The surge is attributed to gold's safe-haven appeal amid rising global uncertainties.
Factors Driving Gold Prices
Several factors are contributing to the ongoing surge in gold prices:
- Global Uncertainty: Escalating trade tensions due to potential additional tariffs on lumber, cars, semiconductors, and pharmaceuticals.
- Geopolitical Risks: Concerns about the US potentially withdrawing support for Ukraine.
- Safe-Haven Demand: Gold is considered a safe-haven asset during times of uncertainty.
Potential Influences on Gold Prices
- US Treasury Yields: A decline in US Treasury yields could weaken the US dollar, supporting gold prices.
- Ukraine Negotiations: A concrete peace agreement between the US and Russia regarding Ukraine could weigh on gold prices.
- Inflationary Pressures: Policymakers' concerns about trade policy shifts and higher tariffs contributing to inflationary pressures could support higher gold prices.
Gold-Silver Ratio
The gold-silver ratio recently declined, indicating that silver is likely to continue outperforming gold in the near term. SMC expects gold and silver to trade within the ranges of 84,000-87,000 and 94,000-98,500, respectively.
Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.
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