Demand for precious metals to stay elevated during Diwali

Despite gold reaching record levels, cultural demand will sustain gold ownership in India, and silver’s function as an industrial input may drive its price over $50 per ounce, a report said on Thursday.

“We believe that while gold may not replicate its stellar YTD 2025 performance, its upward trajectory is far from over.

The rise has entered a phase of structural endurance rather than speculative exuberance,” the report from MP Financial Advisory Services said.

“Thanks to industrial demand, silver has the required merits to cross over the $50 mark this time,” the financial consultancy said.