Gold & Silver Outlook: After a record-breaking year, will precious metals retain shine in 2025? What analysts say

Gold and silver have experienced a historic year, with both precious metals soaring to record highs and solidifying their status as preferred investment choices among investors. Precious metals have long been regarded as safe havens during periods of economic and political uncertainty, and 2024 was no exception. A confluence of global instability, surging demand, and shifting monetary policies drove remarkable growth in their prices, marking an unprecedented rise.

Gold hit its record high of ₹79,775 per 10 grams on MCX in October as escalating Middle East conflicts saw investors flock to safety. Meanwhile, following a significant surge this year, domestic silver prices also reached the ₹1 lakh per kg milestone in October. Currently, it is trading at 95,000 per kg.

Gold price outlook 2025

Rick Kanda, Managing Director of The Gold Bullion Company, called 2024 a “colossal” year for the bullion. He expects gold prices to climb to $3,000 per troy ounce by the end of 2025, supported by continued central bank purchases and economic instability. Geopolitical tensions and monetary policy changes will likely sustain gold's value during uncertain times, he said, adding that 2025 will be another extremely successful year for gold investment.

Silver, gold price target for 2025

Analysts remain bullish on gold and silver in the year ahead. While sharp declines appear unlikely, the metals are well-positioned for further gains in 2025, especially if supportive catalysts like central bank buying and industrial demand persist, according to analysts.

Pranay Aggarwal, CEO of Stoxkart, predicts a further 15–18 per cent rise in gold in 2025 to potential targets of ₹88,500–92,000. He expects silver prices to reach ₹1,12,000–1,16,000, supported by industrial demand.

He recommends a 5–8 per cent portfolio allocation to gold and 10–15 per cent to silver, given their long-term growth potential and ability to hedge against geopolitical risks and inflation.

Riya Singh, Research Analyst, Emkay Global Financial Services believes gold faces immediate resistance at $2,670–$2,700 but has the potential to surge to $2,900 if these levels are breached. The outlook for silver, on the other hand, is bullish as long as it trades above $30, she said, suggesting targets of $32.29–$33. “$29 provides a solid base for future gains,” Singh added.

Traders should be cautious on gold in the short term due to a sharp pre-event rally ahead of key US Consumer Price Index (CPI) data, said Jateen Trivedi, VP Research Analyst, LKP Securities. However, he maintains an overall bullish outlook on the bullion, recommending strict stop-loss levels at ₹77,250 on MCX.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.