The highlight in January, with no surprise, has been flows into gold and silver ETFs.
The recent correction suggests that while precious metals hedge geopolitical tension and inflation, they are not immune to sharp short-term corrections and profit-booking.
Gold imports climbed 349.22 per cent to $12.07 billion in January, while silver imports rose 127 per cent to $2 billion.
Gold ETFs attracted around Rs 11,700 crore, the highest in a calendar month.
ilver continues to outperform the yellow metal, with the gold-to-silver price ratio declining to its lowest level since 2013. The ratio fell to around 57 on Wednesday in the international market, from a five-year high of 100.8 at the end of April 2025.
Gold and silver prices plunged up to 9 per cent in futures trade on Sunday, hitting their lower circuit levels ahead of the Union Budget for 2026-27, as investors extended profit booking after the recent record-breaking rally.
Gold and silver prices are poised to maintain their record-setting rally in the coming week as investors focus on global inflation data and key macroeconomic indicators that shape central bank policy paths, analysts said.
India has protected the interest of domestic farmers and MSMEs by not extending any duty concessions on products across several sectors, including agricultural items such as dairy, as well as chocolates, gold, silver, jewellery, footwear, and sports goods, under the trade pact with Oman.
Silver prices rallied sharply by Rs 15,000 to hit a lifetime high of Rs 265,000 per kg in the national capital on Monday, and gold advanced to a fresh record of Rs 144,600 per 10 grams, mirroring strong gains in the global markets.
'The world is heading into a period of serious problems, and gold and silver are among the few ways to protect oneself.'
'An asset must generate income. Equities yield dividends, bonds pay coupons, deposits give interest, and real estate earns rent.' 'Gold, silver, and even Bitcoin produce no income, they merely store value. So, they should not be compared to productive assets.'
'For most investors, I recommend a low double-digit allocation (10 to 12 per cent) to gold and silver combined.'
Gold and silver prices are expected to maintain their upward trajectory this week, but may see late profit-booking amid the release of a series of crucial global economic indicators, analysts said. On the economic front, traders will closely monitor the manufacturing/ services PMI data from across regions and the US non-farm payrolls/ employment data along with consumer confidence for the month of September and speeches from several Federal Reserve officials, they added.
Passive funds have resumed gaining ground in the mutual fund (MF) industry after a slowdown in 2024, with their share of assets under management (AUM) reaching an all-time high in 2025. The surge has been driven largely by robust inflows into gold and silver exchange-traded funds (ETFs).
'The frenzy for gold is primarily due to the uncertainty surrounding the tariff war.'
Gold prices are likely to trade firm next week as traders await key economic data, including US inflation numbers, for fresh cues on interest rate outlook, while silver may remain volatile amid shifting risk sentiment and speculative activity, analysts said.
Gold extended its record-breaking run to breach the Rs 1.5 lakh per 10-gram mark in futures trade on Tuesday, while silver surged to a lifetime high of Rs 3.27 lakh per kg as investors rushed to safe-haven assets amid mounting global tensions. On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed Rs 6,861, or 4.7 per cent, to record Rs 1,52,500 per 10 grams after settling at Rs 1,45,639 per 10 grams in the previous session.
Silver and gold prices snapped a two-day rebound and declined sharply up to 10 per cent in the futures trade on Thursday amid weak trends in the international markets and a strong US dollar.
Silver prices on Thursday breached the record Rs 4 lakh per kilogram mark in futures trade, while gold touched a lifetime high of Rs 1.8 lakh per 10 grams, riding on strong investor demand and record gains in the international markets.
Is the parabolic rise in silver running out of steam or just getting started? Ramalingam Kalirajan offers his take on if you should invest in silver now?
Silver and gold prices declined sharply in the futures trade on Friday as traders booked profits at elevated levels after a record-breaking rally, tracking a bearish sentiment in global markets and a rebound in the US dollar.
Gold prices fell by Rs 400 to Rs 1.6 lakh per 10 grams in the national capital on Thursday amid weak global trends and receding expectations of an interest rate cut by the US Federal Reserve.
Net inflows into equity mutual funds (MFs) moderated for the second straight month in September, declining 9 per cent during the month to Rs 30,422 crore. The slowdown came as redemptions from active equity schemes rose 30 per cent month-on-month (M-o-M) to a one-year high of around Rs 36,000 crore.
Owing to uncertainties on higher inflation and muted growth in the United States (US), coupled with concerns around America's rising debt and tariffs imposed by President Donald Trump, the world's largest economy has become the epicentre of an unabated record rally in prices of precious metals.
Gem and Jewellery Export Promotion Council says step will balance trade deficit with the US.
A Hyderabad-based software professional has been arrested in Visakhapatnam for his alleged involvement in 26 night-time burglaries. Police recovered stolen gold, silver, and a BMW car purchased with the stolen money.
'New investors should enter gradually and stay cautious.' 'Silver is a structural multi-year story, but timing matters in a high-volatility metal.'
'I have no idea about such a medal. Never got one,' says Surya Shekhar Ganguly, the national chess champion between 2003 and 2008.
Tejaswin Shankar won the men's heptathlon event to clinch India's lone gold as the country ended the Asian Indoor Athletics Championships campaign with five medals. India finished overall sixth in the medals tally.
Suruchi Singh and Samrat Rana scored 479.6 -- a new World and Asian junior record -- but Uzbekistan clinched gold with a world-record 481.3 at in the 10m air pistol mixed team event at the Asian Championship.
New investors should enter gradually and with a long horizon. 'Staggered investment through systematic purchase plans is advisable rather than lump-sum buying.'
The bull-market in gold is not yet over and prices can rise to $6,200 an ounce (oz) by mid-2026, up nearly 25 per cent from current levels, according to UBS.
Esha Singh fought off challenges from two Chinese Taipei shooters as well as compatriot Suruchi Singh, to claim her second individual senior Asian Championship gold, even as Samrat Rana bagged bronze.
As the rally in precious metals takes centre stage in 2025, most analysts recommend a larger allocation to gold over silver despite the latter's outperformance this year. In the current calendar year (CY25), spot gold prices in dollar terms rallied
Olympians Elavenil Valarivan and Arjun Babuta proved an unstoppable pair, clinching the 10m air rifle mixed team gold with a flawless display as Indian shooters continued their dominance at the Asian Championship (Rifle/Pistol) on Sunday.
Manu Bhaker won silver in the women's 25m pistol at the Asian Shooting Championships after losing a dramatic shoot-off, while Esha Singh claimed bronze in New Delhi.
Lovlina, Arundhati lead as India claim nine gold medals in BOXAM Elite 2026
Olympian Elavenil Valarivan held her nerve to fend off a strong challenge from Japan's Misaki Nobata and clinch the women's 10m air rifle gold at the Asian Shooting Championship.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
'Higher interest rates make gold less attractive as it doesn't generate yield.' 'However, with rates set to fall, the tables are turning for gold.'
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