Gold Prices in India Rise for Seven Straight Weeks, Echoing 2020 Surge
India’s Gold Rally is set to Continue past Seven Weeks, a Record Run Since the Covid-19 Pandemic
Gold prices in India are set to end higher for the seventh consecutive week, marking the longest rally since the COVID-19 surge in 2020. Despite opening weak at ₹85,715 per 10 grams on Friday morning and briefly dipping to ₹85,690, the precious metal has maintained an upward trend amid economic uncertainty and geopolitical tensions.
Gold prices have been on a record-breaking spree in 2025, hitting 13 all-time highs in under two months. Investors are flocking to gold as a safe-haven asset, moving away from riskier investments like stocks. Over the past seven weeks, spot gold has surged from $2,622 to $2,934 per troy ounce—a 12% increase. In the last trading session, it touched another high of $2,954.
Historically, gold has been a go-to asset during economic turmoil. During the COVID-19 crisis, gold prices soared for nine consecutive weeks from June to August 2020, jumping 23.14% to reach $2,075. However, it took nearly three years for gold to break that record in December 2023.
Gold prices in the retail market fluctuate daily across cities, influenced by factors such as demand and supply dynamics, global stock market trends, and currency exchange rate movements.
The ongoing surge in gold prices is driven by investors turning to safe-haven assets amid economic uncertainty, geopolitical tensions, and escalating trade disputes. Analysts warn that these factors could fuel global inflation and slow economic growth, further boosting gold’s appeal as a secure investment. In Mumbai earlier today, 22K gold was priced at ₹80,710 per 10 grams, while 24K and 18K stood at ₹88,050 and ₹66,040, respectively.
