Gold Prices Could Reach Rs 1.5 Lakh by Next Diwali: Axis Securities
Gold prices in India may surge to Rs 1.45-1.50 lakh per 10 grams by Diwali 2025, according to a new forecast from Axis Securities. The firm’s Dhanteras 2025 Gold Report advises investors to accumulate the metal on price dips.
Key Takeaways
- Price Target: Rs 1.45-1.50 lakh/10g by next Diwali
- Buying Range: Rs 1.05-1.15 lakh/10g on dips
- Potential Upside: Up to 30% from current levels
- Global Target: $4,700-$4,800 if gold holds above $3,800
Bullish Outlook Supported by Multiple Factors
Axis Securities maintains a strongly bullish stance on gold, citing several global factors strengthening its safe-haven appeal. The rally is expected to extend into 2026, supported by steady ETF inflows and growing investor preference for gold as a hedge against uncertainty.
Domestic gold prices have already crossed Rs 1 lakh per 10 grams, with MCX Gold rallying due to central bank buying, rising geopolitical tensions, and expectations of more US Federal Reserve rate cuts.
“Traders may consider accumulating on declines, as the overall trend remains positive.”
“Gold’s rally has been supported by strong central bank demand, ETF inflows, and growing concerns over monetary debasement. If these trends continue, gold could see further upside into 2026.”
Five Structural Tailwinds for Gold
Axis Securities identified five key factors likely to keep gold prices elevated:
- US Rate Cuts: Lower yields making gold more attractive
- Central Bank Accumulation: Ongoing diversification away from US dollar
- Geopolitical Tensions: Trade tariffs and global conflicts driving safe-haven demand
- Weakening Dollar: De-dollarisation and high US debt boosting bullion’s appeal
- ETF Demand: Retail investors piling in for liquidity and inflation protection
Critical Price Levels to Watch
The report highlights important technical levels for gold. If the metal sustains above $3,800, the next target could be $4,700-$4,800 in the medium term. However, a pullback below $3,446 could test the $3,100 support zone, which would be critical for trend continuation.
With domestic prices near record highs and multiple supportive factors, investors may find opportunities during price corrections ahead of the festive season.
