Gold rates in India are on a stellar rally, with the precious metal breaking all-time highs back-to-back. The surge in domestic prices mirrors the international gold rally, driven by heightened geopolitical tensions, global trade concerns, US Federal Reserve rate cuts, and other key macroeconomic factors.
The price of gold has increased by more than 40% since the beginning of the year 2025 supported by a range of factors including weak dollar, central bank buying, ETF inflows and geopolitical tensions.
Gold’s Record Breaking Rally in September
Gold price rally shifted another gear in September, with the yellow metal’s valuation surging by more than 12% in a month. As US President Donald Trump has announced fresh tariffs on imported pharmaceutical firms and continued uncertainty around new H1 B visa rules, gold price rally is likely to continue in the coming months.
Gold rate in India has shattered its all-time high mark around ten times in September. The price of 24 karat gold stood at Rs 11,488 per gram, 22 karat gold rate increased to Rs 10,530 per gram. The price of 18 karat gold increased to Rs 8,616 per gram.
Gold Breaks Back-To-Back Records: Is Now The Time To Stop?
Despite gold hovering close to its all-time high mark, experts believe that the current geopolitical and macroeconomic scenario will continue to drive the rally by the end of the year.
“This year has placed gold right at the center of financial history, with spot gold prices reaching an all-time high of approximately $3,791.11 per ounce on September 23, 2025, almost double its levels exactly two years ago and past our 2024 targets of USD 3700,” noted Sandip Raichura, CEO – Retail Broking & Distribution and Director at PL Capital.
“In the middle of this historical move, it becomes difficult to decide on further levels and we believe Gold is eventually going to rise beyond 4800 USD. Of course, caution is warranted going ahead as any explosive moves like the one we are in may be subject to sudden corrections,” Raichura added.
When To Stop Trading In Gold?
The gold price rally is continuously at its peak momentum, and any major surge in its valuation may lead to sharp correction. “Gold remains in momentum and any longer term breaches below USD 3444 will signal a correction and should be a stop for trading positions. Longer term positions however may use any dips as a buying opportunity as we believe gold has begun a very large move which may last several months,” stated Raichura.
Gold Price In Bubble Territory
As gold continues its bullish run, there is a concern that the precious metals including silver, are heading into the bubble territory. Gold and silver price rally could be a part of broader bubble across the asset classes, warned JPMorgan Chairman and CEO Jamie Dimon recently.
“We’re getting in bubble stuff here. I’m not saying I don’t know where we are, but there’s a lot of positive sentiment out there driving a lot of asset prices – highest stock prices ever, highest gold ever, highest crypto ever,” Dimon told CNBC TV 18 in an interview.
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