The People's Bank of China (PBC), the country's central bank, extended its buying streak of gold reserves for the 23rd consecutive month in September 2026, marking the longest official purchase by any bank in the world. This has brought China's official gold reserves to 77.47 million ounces, up from 76.73 million ounces in August, official data showed on Wednesday (October 7). By the end of July, China's gold reserves reached nearly 76.08 million troy ounces, valuing at around $306 billion. By the end of August, its estimated value rose to $350 billion. According to Cryptometer, the People's Bank of China (PBC) added 20 tonnes in July alone, lifting official holdings to a record 2,366 tonnes.<h3>Why is China buying more gold?</h3>China's central bank has maintained a sustained gold-buying streak in world history. It has been buying gold consistently for nearly two years. Multiple reasons have been cited for the bank's move, including geopolitical uncertainty, reserve diversification, evading sanctions and de-dollarisation. De-dollarisation and reserve diversification: China holds a huge pile of foreign exchange reserves historically weighted toward US dollar assets like Treasury bonds. Gold offers a way to reduce that concentration without relying on another country's currency or financial system. Protection against sanctions: After Russia's central bank reserves were frozen due to international pressure following Moscow's invasion of Ukraine in 2022, it has became wakeup call for countries like China. The move indicates that dollar- and euro-denominated reserves can be frozen by Western governments in a crisis, but gold held in domestic vaults cannot be sanctioned the same way, since it doesn't depend on a foreign issuer. Geopolitical risk management: A 2026 survey by the OMFIF (a central-bank research network) found that most reserve managers cited protection from geopolitical risk as a key reason for buying gold, and the large majority said they see the global monetary system becoming more "multipolar," i.e., less centred on the US dollar. The scale of buying: According to the People's Bank of China, official holdings reached roughly 2,366 tonnes by July 2026, after what was reported as the longest continuous buying streak in the central bank's history, 21 months in a row. However, analysts, including Goldman Sachs, believe China's actual purchases are significantly higher than the official figures suggest, since much of its buying happens through markets like London's over-the-counter gold market rather than being disclosed directly. Broader trend: China isn't alone. Central banks globally have been buying gold at near-record levels for several years, and some forecasters expect this to continue given ongoing geopolitical tensions, trade disputes, and a more fragmented global financial system.&nbsp;Also read: <a href="https://www.wionews.com/world/trump-administration-proposes-70-000-fee-for-international-students-to-work-in-us-1791446308714">Trump administration proposes $70,000 fee for international students to work in US</a><h3>How do India and China's central banks see gold reserves?</h3>Reacting to the ongoing development, Siddharth Maurya, Managing Director of Vibhavangal Anukulkara Pvt Ltd, said, "China’s central bank has been buying gold for 23 consecutive months, accumulating 740,000 ounces of the precious metal worth $3.1 billion in the latest round. Over that period, Beijing has added 4.67 million ounces—about $19.5 billion — and grown its gold reserves to roughly $323.5 billion in total. It is not a fleeting exercise in short-term trading. It is a deepening conviction in the virtues of hard assets as a hedge against devaluation and de-dollarisation." "Meanwhile, there is an equally compelling story unfolding around India, which has official gold reserves of 880 tonnes valued at near $115–120 billion, placing it among the world’s top ten. China holds far more. But India’s true gold strength lies with its households, which own an estimated 25,000 tonnes—worth over $4 trillion, a stockpile larger than the combined reserves of the world’s largest central banks," he added. "The RBI has also been withdrawing gold from overseas repositories, and focusing more closely on its domestic gold holdings. The India connection therefore goes far beyond a desire to emulate China’s monthly gold-buying binge, and is instead about recognising that India already possesses an immense and undervalued stock of gold bullion that, if leveraged through monetisation, gold-backed finance or sovereign wealth, could create powerful economic opportunities that harness its unique cultural attachment to gold, " Maurya said.&nbsp;In September, the US dollar index rose, and prices of major financial assets declined overall globally. This comes after being influenced by the global macroeconomic environment and the monetary policies of major developed and developing economies. It prompted the country's foreign exchange reserves to fall over the month after the combined effect of exchange rate translation and changes in asset prices. Therefore, China stepped in to focus more on diversifying its reserves by buying more gold to maintain the overall stability of its foreign exchange reserves.

China's central bank has maintained a sustained gold-buying streak in world history. It has been buying gold consistently for nearly two years. Multiple reasons have been cited for the bank's move, including geopolitical uncertainty, reserve diversification, sanctions and de-dollarisation.

The People's Bank of China (PBC), the country's central bank, extended its buying streak of gold reserves for the 23rd consecutive month in September 2026, marking the longest official purchase by any bank in the world. This has brought China's official gold reserves to 77.47 million ounces, up from 76.73 million ounces in August, official data showed on Wednesday (October 7). By the end of July, China's gold reserves reached nearly 76.08 million troy ounces, valuing at around $306 billion. By the end of August, its estimated value rose to $350 billion. According to Cryptometer, the People's Bank of China (PBC) added 20 tonnes in July alone, lifting official holdings to a record 2,366 tonnes. Why is China buying more gold? China's central bank has maintained a sustained gold-buying streak in world history. It has been buying gold consistently for nearly two years. Multiple reasons have been cited for the bank's move, including geopolitical uncertainty, reserve diversification, evading sanctions and de-dollarisation. De-dollarisation and reserve diversification: China holds a huge pile of foreign exchange reserves historically weighted toward US dollar assets like Treasury bonds. Gold offers a way to reduce that concentration without relying on another country's currency or financial system. Protection against sanctions: After Russia's central bank reserves were frozen due to international pressure following Moscow's invasion of Ukraine in 2022, it has became wakeup call for countries like China. The move indicates that dollar- and euro-denominated reserves can be frozen by Western governments in a crisis, but gold held in domestic vaults cannot be sanctioned the same way, since it doesn't depend on a foreign issuer. Geopolitical risk management: A 2026 survey by the OMFIF (a central-bank research network) found that most reserve managers cited protection from geopolitical risk as a key reason for buying gold, and the large majority said they see the global monetary system becoming more "multipolar," i.e., less centred on the US dollar. The scale of buying: According to the People's Bank of China, official holdings reached roughly 2,366 tonnes by July 2026, after what was reported as the longest continuous buying streak in the central bank's history, 21 months in a row. However, analysts, including Goldman Sachs, believe China's actual purchases are significantly higher than the official figures suggest, since much of its buying happens through markets like London's over-the-counter gold market rather than being disclosed directly. Broader trend: China isn't alone. Central banks globally have been buying gold at near-record levels for several years, and some forecasters expect this to continue given ongoing geopolitical tensions, trade disputes, and a more fragmented global financial system. Also read: Trump administration proposes $70,000 fee for international students to work in US How do India and China's central banks see gold reserves? Reacting to the ongoing development, Siddharth Maurya, Managing Director of Vibhavangal Anukulkara Pvt Ltd, said, "China’s central bank has been buying gold for 23 consecutive months, accumulating 740,000 ounces of the precious metal worth $3.1 billion in the latest round. Over that period, Beijing has added 4.67 million ounces—about $19.5 billion — and grown its gold reserves to roughly $323.5 billion in total. It is not a fleeting exercise in short-term trading. It is a deepening conviction in the virtues of hard assets as a hedge against devaluation and de-dollarisation." "Meanwhile, there is an equally compelling story unfolding around India, which has official gold reserves of 880 tonnes valued at near $115–120 billion, placing it among the world’s top ten. China holds far more. But India’s true gold strength lies with its households, which own an estimated 25,000 tonnes—worth over $4 trillion, a stockpile larger than the combined reserves of the world’s largest central banks," he added. "The RBI has also been withdrawing gold from overseas repositories, and focusing more closely on its domestic gold holdings. The India connection therefore goes far beyond a desire to emulate China’s monthly gold-buying binge, and is instead about recognising that India already possesses an immense and undervalued stock of gold bullion that, if leveraged through monetisation, gold-backed finance or sovereign wealth, could create powerful economic opportunities that harness its unique cultural attachment to gold, " Maurya said. In September, the US dollar index rose, and prices of major financial assets declined overall globally. This comes after being influenced by the global macroeconomic environment and the monetary policies of major developed and developing economies. It prompted the country's foreign exchange reserves to fall over the month after the combined effect of exchange rate translation and changes in asset prices. Therefore, China stepped in to focus more on diversifying its reserves by buying more gold to maintain the overall stability of its foreign exchange reserves.

China's central bank has maintained a sustained gold-buying streak in world history. It has been buying gold consistently for nearly two years. Multiple reasons have been cited for the bank's move, including geopolitical uncertainty, reserve diversification, sanctions and de-dollarisation.

New Cold War: Why is China buying more gold? Explained

Gold prices have remained elevated in India and around the globe, keeping the precious metal in focus among investors and jewellery buyers. But alongside market forecasts, a much less conventional prediction has also resurfaced online: claims that Bulgarian mystic Baba Vanga foresaw a sharp rise in gold prices in 2027. According to versions of the prediction circulating online, a global financial crisis or severe cash shortage could weaken confidence in traditional banking systems and encourage investors to turn to gold. But how much can the price rise, according to Baba Vanga? Scroll down to find out.<h2>Baba Vanga gold price prediction for 2027</h2>According to posts circulating online, gold prices could rise by up to 25 per cent to 40 per cent amid a global financial crisis. However, there is no authenticated record showing that Baba Vanga made this specific prediction. Sources examining her alleged forecasts note that she left no known written record of her prophecies, while many claims attributed to her have emerged through second-hand accounts and later publications.Also read | <a href="https://www.wionews.com/trending/baba-vanga-s-2026-prophecy-2-predictions-already-came-true-3-terrifying-ones-remain-first-human-alien-contact-world-war-3-and-putin-s-exit-1786169922573">Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside</a>Several online reports claim that gold prices in India could climb to between Rs 2.62 lakh and Rs 2.82 lakh per 10 grams ($2,733 to $2,942 per 10 grams) in 2027. Another version places the possible price at around Rs 2.1 lakh per 10 grams.Readers must note that these figures are not forecasts issued by financial institutions. They are estimates attached to an alleged prediction made by mystic Baba and should therefore be treated as speculative claims rather than established market projections.However, financial institutions have made their own separate predictions regarding gold prices in 2027.<h2>What JPMorgan predicts for gold in 2027</h2>Major financial institutions are also projecting substantially higher gold prices.J.P. Morgan Global Research expects gold to average about $2,116.44 per 10 grams or $6,000 per ounce (₹1,84,883 per 10 grams) in the fourth quarter of 2026 and sees prices rising towards $2,222 per 10 grams or $6,300 per ounce (₹2,13,125 per 10 grams) by the end of 2027. The bank points to factors including geopolitical uncertainty, fiscal concerns, inflation risks and demand from central banks and investors.However, J.P. Morgan said that its outlook is subject to changes in Federal Reserve policy and the evolution of geopolitical conflicts.Also read | <a href="https://www.wionews.com/india-news/donkey-route-three-gujaratis-taking-illegal-route-to-us-vanish-in-ethiopia-family-claims-kidnapping-face-1cr-ransom-seeks-govt-help-1790743991115">US dream turns nightmare: 3 Gujaratis 'vanish' in Ethiopia, family seeks govt help after scary ransom demand</a><h2>UBS and Deutsche Bank predictions for gold prices in 2027</h2>UBS has separately projected that gold could rise towards $1,763.70 per 10 grams or $5,000 per ounce (₹1,69,049 per 10 grams) in the first half of 2027.Deutsche Bank has also maintained a $1,622.60 per 10 grams or $4,600 per ounce (₹1,55,525 per 10 grams), fourth-quarter 2026 target, according to a September analysis cited by TradingView, while arguing that gold's recent correction may have largely run its course.<h2>What is happening to gold prices in India?</h2>The domestic market has been volatile rather than moving in a straight line. As of September 30, reported 24-carat gold rates were around Rs 1.46 lakh to Rs 1.50 lakh per 10 grams.<h2>Who was Baba Vanga?</h2>Vanga was born Vangeliya Pandeva Dimitrova in 1911 and became famous as a blind Bulgarian mystic, clairvoyant and herbalist. According to accounts about her life, she lost her sight at the age of 12 after being caught in a tornado.Her alleged predictions have since been credited with foreseeing events including the September 11 attacks, the Chornobyl disaster, Princess Diana's death, the 2004 Indian Ocean tsunami, Brexit and the rise of ISIS. Supporters have even claimed that around 85 per cent of her predictions came true. That figure, however, has never been independently verified.With no written record of her prophecies, it remains impossible to establish reliably whether she made many of the predictions now attributed to her.&nbsp;

Gold is already near record levels, but an unusual 2027 prediction is going viral online. Claims attributed to Baba Vanga suggest a major surge could be coming. Financial institutions are also projecting substantially higher gold prices. Here's all you need to know about gold prices in 2027.

Gold prices have remained elevated in India and around the globe, keeping the precious metal in focus among investors and jewellery buyers. But alongside market forecasts, a much less conventional prediction has also resurfaced online: claims that Bulgarian mystic Baba Vanga foresaw a sharp rise in gold prices in 2027. According to versions of the prediction circulating online, a global financial crisis or severe cash shortage could weaken confidence in traditional banking systems and encourage investors to turn to gold. But how much can the price rise, according to Baba Vanga? Scroll down to find out. Baba Vanga gold price prediction for 2027 According to posts circulating online, gold prices could rise by up to 25 per cent to 40 per cent amid a global financial crisis. However, there is no authenticated record showing that Baba Vanga made this specific prediction. Sources examining her alleged forecasts note that she left no known written record of her prophecies, while many claims attributed to her have emerged through second-hand accounts and later publications. Also read | Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside Several online reports claim that gold prices in India could climb to between Rs 2.62 lakh and Rs 2.82 lakh per 10 grams ($2,733 to $2,942 per 10 grams) in 2027. Another version places the possible price at around Rs 2.1 lakh per 10 grams. Readers must note that these figures are not forecasts issued by financial institutions. They are estimates attached to an alleged prediction made by mystic Baba and should therefore be treated as speculative claims rather than established market projections. However, financial institutions have made their own separate predictions regarding gold prices in 2027. What JPMorgan predicts for gold in 2027 Major financial institutions are also projecting substantially higher gold prices. J.P. Morgan Global Research expects gold to average about $2,116.44 per 10 grams or $6,000 per ounce (₹1,84,883 per 10 grams) in the fourth quarter of 2026 and sees prices rising towards $2,222 per 10 grams or $6,300 per ounce (₹2,13,125 per 10 grams) by the end of 2027. The bank points to factors including geopolitical uncertainty, fiscal concerns, inflation risks and demand from central banks and investors. However, J.P. Morgan said that its outlook is subject to changes in Federal Reserve policy and the evolution of geopolitical conflicts. Also read | US dream turns nightmare: 3 Gujaratis 'vanish' in Ethiopia, family seeks govt help after scary ransom demand UBS and Deutsche Bank predictions for gold prices in 2027 UBS has separately projected that gold could rise towards $1,763.70 per 10 grams or $5,000 per ounce (₹1,69,049 per 10 grams) in the first half of 2027. Deutsche Bank has also maintained a $1,622.60 per 10 grams or $4,600 per ounce (₹1,55,525 per 10 grams), fourth-quarter 2026 target, according to a September analysis cited by TradingView, while arguing that gold's recent correction may have largely run its course. What is happening to gold prices in India? The domestic market has been volatile rather than moving in a straight line. As of September 30, reported 24-carat gold rates were around Rs 1.46 lakh to Rs 1.50 lakh per 10 grams. Who was Baba Vanga? Vanga was born Vangeliya Pandeva Dimitrova in 1911 and became famous as a blind Bulgarian mystic, clairvoyant and herbalist. According to accounts about her life, she lost her sight at the age of 12 after being caught in a tornado. Her alleged predictions have since been credited with foreseeing events including the September 11 attacks, the Chornobyl disaster, Princess Diana's death, the 2004 Indian Ocean tsunami, Brexit and the rise of ISIS. Supporters have even claimed that around 85 per cent of her predictions came true. That figure, however, has never been independently verified. With no written record of her prophecies, it remains impossible to establish reliably whether she made many of the predictions now attributed to her.

Gold is already near record levels, but an unusual 2027 prediction is going viral online. Claims attributed to Baba Vanga suggest a major surge could be coming. Financial institutions are also projecting substantially higher gold prices. Here's all you need to know about gold prices in 2027.

Global cash crisis and gold prices reaching new heights? Baba Vanga's 2027 prophecy predicts prices could cross...

Russia-Ukraine tensions escalate as Russian Foreign Minister Sergey Lavrov warns of a harsh response to Kyiv, saying Moscow is intensifying its actions.

Meanwhile, Iranian President Masoud Pezeshkian is set to travel to New Delhi for the upcoming BRICS Summit, as India prepares to host the 18th BRICS Leaders’ Summit in September 2026.

In India, fugitive drug kingpin Virendra Singh Basoya has been brought back from the UAE and taken into custody by the Narcotics Control Bureau. The Supreme Court has also quashed FIRs against comedian Samay Raina and four others over alleged insensitive remarks concerning persons with disabilities on India’s Got Latent.

President Droupadi Murmu has opened Amrit Udyan at Rashtrapati Bhavan, while a Tiranga rally in Jammu and Kashmir showcased patriotism and communal harmony ahead of Independence Day.

Internationally, around 1,800 people have been evacuated in western Germany after a wildfire spread, while Zambia has suspended nationwide vote counting following reports of violence. Gold prices have also declined as investors book profits after bullion recently climbed to its highest level in more than two months.

Russia Warns Ukraine | Iran Prez To Visit India | US-Iran Tensions | Germany Wildfire | Zambia News

India's demand for gold has fallen by 6%, even as total spending on the precious metal reached a record high, according to the World Gold Council.

The latest figures suggest that while Indians continue to value gold for weddings, festivals, and investments, soaring prices are changing buying behavior. Consumers are increasingly opting for lighter jewellery, delaying purchases, or waiting for discounts and festive offers. Meanwhile, investment preferences are also evolving, with digital gold and other alternatives gaining traction as physical gold purchases slow.

India's Gold Demand Falls 6% Despite Record Spending | Why Indians Are Buying Less Gold

China's appetite for gold is showing no signs of slowing down. The world's largest bullion market imported around 173 tonnes of gold in June, marking the highest monthly import level since March 2024 and extending gains for the third consecutive month.

The surge comes after international gold prices corrected sharply from their early-2026 highs, encouraging investors to buy the dip. A stronger Chinese yuan also made overseas gold purchases more affordable, while commercial banks accelerated imports before a new licensing regime took effect.

China's Gold imports hit highest level since 2024 | Gold demand surges as prices fall

Gold is no longer just an heirloom in India; it's fast turning into working capital. On the other hand, Beijing is stockpiling it like never before. Two very different stories for one asset class.<h3>Gold loans surge, India's silent credit shift</h3>Let's start with India. Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.&nbsp;Zoom out further, and new gold loan sourcing surged 91 per cent year-on-year in last year's December quarter alone, with active accounts crossing 90 million. Non-banking financial companies, or NBFCs, are the engine.&nbsp;Their gold loan books nearly doubled, up 96.5 per cent year-on-year, dwarfing the industry's 54.5 per cent growth.That shows NBFCs are riding India's gold-backed loan boom.<h3>South India leads, North is catching up fast</h3>Geography tells the real story. Tamil Nadu leads with 5.96 lakh crore rupees in outstanding gold loans, followed by Andhra Pradesh at 3.08 lakh crore rupees, then Karnataka, Telangana and Kerala.&nbsp;The five southern states are cornering nearly three-fourths of the entire market. But the map is shifting: Uttar Pradesh, Madhya Pradesh and Rajasthan are now emerging as high-growth frontiers. That is a clear sign gold-backed credit is going pan-India.<h3>From crisis cash to growth capital: Gold</h3><h3>Why now?</h3>Elevated gold prices mean smaller amounts of jewellery unlock bigger loans. In addition, RBI's crackdown on unsecured lending has pushed borrowers toward safer, collateral-backed products.&nbsp;And crucially, this isn't panic borrowing, but productive borrowing for funding small businesses, education and agriculture inputs. The old "gold loan for a crisis" script is being rewritten into "gold loan for growth."&nbsp;Also read: <a href="https://www.wionews.com/trending/man-from-year-3700-warns-of-apocalyptic-war-with-robots-1783492147310">Man claims he travelled to year 3700. Robots had killed 30% of humans. Here is what else he says he saw</a><h3>Two nations, one metal, opposite strategies</h3>Now over to China. It is a mirror image, at the sovereign scale. The People's Bank of China, or the PBOC, just booked its 20th straight month of gold buying, adding 480,000 troy ounces, or 14.93 tonnes, in June. That's China's largest single-month purchase since 2023. It is also the longest streak since 2015, taking reserves to roughly 2,346 tonnes.<h3>Beijing bets big as gold prices crash</h3>Tellingly, Beijing bought aggressively even as gold prices fell nearly 12 per cent in June. The latest decline marks the yellow metal's sharpest monthly drop since 2008. That trend shows a classic dip-buying by a reserve manager thinking in decades, not quarters.&nbsp;Bottom line: Indian households are unlocking dead capital for livelihoods, while China is hoarding it to dedollarise reserves. Same metal, two entirely different bets on the future.

Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.

Gold is no longer just an heirloom in India; it's fast turning into working capital. On the other hand, Beijing is stockpiling it like never before. Two very different stories for one asset class. Gold loans surge, India's silent credit shift Let's start with India. Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump. Zoom out further, and new gold loan sourcing surged 91 per cent year-on-year in last year's December quarter alone, with active accounts crossing 90 million. Non-banking financial companies, or NBFCs, are the engine. Their gold loan books nearly doubled, up 96.5 per cent year-on-year, dwarfing the industry's 54.5 per cent growth. That shows NBFCs are riding India's gold-backed loan boom. South India leads, North is catching up fast Geography tells the real story. Tamil Nadu leads with 5.96 lakh crore rupees in outstanding gold loans, followed by Andhra Pradesh at 3.08 lakh crore rupees, then Karnataka, Telangana and Kerala. The five southern states are cornering nearly three-fourths of the entire market. But the map is shifting: Uttar Pradesh, Madhya Pradesh and Rajasthan are now emerging as high-growth frontiers. That is a clear sign gold-backed credit is going pan-India. From crisis cash to growth capital: Gold Why now? Elevated gold prices mean smaller amounts of jewellery unlock bigger loans. In addition, RBI's crackdown on unsecured lending has pushed borrowers toward safer, collateral-backed products. And crucially, this isn't panic borrowing, but productive borrowing for funding small businesses, education and agriculture inputs. The old "gold loan for a crisis" script is being rewritten into "gold loan for growth." Also read: Man claims he travelled to year 3700. Robots had killed 30% of humans. Here is what else he says he saw Two nations, one metal, opposite strategies Now over to China. It is a mirror image, at the sovereign scale. The People's Bank of China, or the PBOC, just booked its 20th straight month of gold buying, adding 480,000 troy ounces, or 14.93 tonnes, in June. That's China's largest single-month purchase since 2023. It is also the longest streak since 2015, taking reserves to roughly 2,346 tonnes. Beijing bets big as gold prices crash Tellingly, Beijing bought aggressively even as gold prices fell nearly 12 per cent in June. The latest decline marks the yellow metal's sharpest monthly drop since 2008. That trend shows a classic dip-buying by a reserve manager thinking in decades, not quarters. Bottom line: Indian households are unlocking dead capital for livelihoods, while China is hoarding it to dedollarise reserves. Same metal, two entirely different bets on the future.

Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.

Are Indians finally monetising their gold?

Amid falling gold prices in India, people are hurrying to sell their old gold to cash out before its prices decline further from record levels seen earlier this year. Growing concerns that gold may have already peaked are prompting Indian households to liquidate their holdings rather than hold on to them. This comes at a time when India largely remains dependent on imported gold. During FY26, the country imported gold worth nearly USD 72.4 billion, while recycled gold contributed an estimated 125-150 tonnes in 2025. Industry projections suggest recycled gold volumes could rise to 200–250 tonnes in 2026 if the current pace continues. Data from the India Bullion &amp; Jewellers Association (IBJA) shows that around 50 tonnes of old gold were sold between April and June, marking a huge 43 per cent increase as compared to the same period last year. With gold prices retreating to about Rs 1.4 lakh per 10 grams and expectations of a further decline to Rs 1.2 lakh. As a result, many consumers began opting to monetise their gold and secure profits rather than exchange old jewellery for new pieces.<h3>Sharp rise in gold business</h3>The rising trend has also provided momentum to the organised gold recycling industry of India, as high prices are stimulating citizens across Indian households to bring idle gold into the market instead of leaving it unused. In response, Industry executives stated that consumers are increasingly seeing gold as a financial asset that can be converted into cash when prices are favourable. It ensures a continuous supply of recyclable gold for refiners and jewellers. Firms involved in buying old gold are also seeing a sharp rise in business. Muthoot Exim reported a 40 per cent increase in gold collections through its network of over 100 Gold Points spread across the country. Industry reports also indicated that the surge has provided a boost to the country's gold recycling industry as “idle” gold is being reintroduced into circulation, creating an additional domestic source of supply for refiners and jewellers.<h3>Why are gold prices recovering?</h3>Market experts said the recent recovery in gold prices has been driven by investors reassessing expectations around the US Federal Reserve's interest rate trajectory, alongside ongoing geopolitical uncertainties and fluctuations in crude oil prices. Internationally, Comex gold futures climbed to USD 4,044.80 per ounce. However, concerns persist after Iran reiterated its intention to maintain control over shipping through the Strait of Hormuz, a crucial route for global oil trade. India remains highly dependent on imported gold, bringing in approximately USD 72.4 billion worth during FY26. Recycled gold accounted for an estimated 125–150 tonnes in 2025 and, according to industry projections, could rise to 200–250 tonnes in 2026 if current resale trends continue. &nbsp;

Industry executives stated that consumers are increasingly seeing gold as a financial asset that can be converted into cash when prices are favourable. It ensures a continuous supply of recyclable gold for refiners and jewellers.

Amid falling gold prices in India, people are hurrying to sell their old gold to cash out before its prices decline further from record levels seen earlier this year. Growing concerns that gold may have already peaked are prompting Indian households to liquidate their holdings rather than hold on to them. This comes at a time when India largely remains dependent on imported gold. During FY26, the country imported gold worth nearly USD 72.4 billion, while recycled gold contributed an estimated 125-150 tonnes in 2025. Industry projections suggest recycled gold volumes could rise to 200–250 tonnes in 2026 if the current pace continues. Data from the India Bullion & Jewellers Association (IBJA) shows that around 50 tonnes of old gold were sold between April and June, marking a huge 43 per cent increase as compared to the same period last year. With gold prices retreating to about Rs 1.4 lakh per 10 grams and expectations of a further decline to Rs 1.2 lakh. As a result, many consumers began opting to monetise their gold and secure profits rather than exchange old jewellery for new pieces. Sharp rise in gold business The rising trend has also provided momentum to the organised gold recycling industry of India, as high prices are stimulating citizens across Indian households to bring idle gold into the market instead of leaving it unused. In response, Industry executives stated that consumers are increasingly seeing gold as a financial asset that can be converted into cash when prices are favourable. It ensures a continuous supply of recyclable gold for refiners and jewellers. Firms involved in buying old gold are also seeing a sharp rise in business. Muthoot Exim reported a 40 per cent increase in gold collections through its network of over 100 Gold Points spread across the country. Industry reports also indicated that the surge has provided a boost to the country's gold recycling industry as “idle” gold is being reintroduced into circulation, creating an additional domestic source of supply for refiners and jewellers. Why are gold prices recovering? Market experts said the recent recovery in gold prices has been driven by investors reassessing expectations around the US Federal Reserve's interest rate trajectory, alongside ongoing geopolitical uncertainties and fluctuations in crude oil prices. Internationally, Comex gold futures climbed to USD 4,044.80 per ounce. However, concerns persist after Iran reiterated its intention to maintain control over shipping through the Strait of Hormuz, a crucial route for global oil trade. India remains highly dependent on imported gold, bringing in approximately USD 72.4 billion worth during FY26. Recycled gold accounted for an estimated 125–150 tonnes in 2025 and, according to industry projections, could rise to 200–250 tonnes in 2026 if current resale trends continue.

Industry executives stated that consumers are increasingly seeing gold as a financial asset that can be converted into cash when prices are favourable. It ensures a continuous supply of recyclable gold for refiners and jewellers.

Why are Indians selling their gold? 50 tonnes offloaded in just three months: EXPLAINED

Gold has emerged as the top hedge for central banks amid ongoing geopolitical risks. According to a recent survey of public investors by the Official Monetary and Financial Institutions Forum (OMFIF), a net 30 per cent of central banks intend to increase their gold holdings over the next one to two years. The report noted that 82 per cent of central banks held physical gold reserves in 2026, compared with 71 per cent in the last year. The survey found that around 61 per cent of central banks expect the gold prices to trade between USD 5,000 and USD 6,000 per ounce by June 2027, while 28 per cent stated that recent prices are discouraging enough to make further purchases. "The motivation behind gold purchases is increasingly strategic rather than purely financial. Protection against geopolitical risk is cited by 51 per cent of respondents, up 11 per cent from 2024," according to the report. The survey found that about 61 per cent of central banks expect gold prices to trade between USD 5,000 and USD 6,000 per ounce by June 2027. However, 28 per cent indicated that current gold prices are already high enough to discourage additional purchases.&nbsp;Also read: <a href="https://www.wionews.com/world/what-is-article-5-of-us-iran-deal-and-why-is-it-being-blamed-for-hormuz-unrest-wion-decodes-1782825574565">What is Article 5 of US-Iran deal, and why is it being blamed for Hormuz unrest? WION Decodes</a><h3>Dollar alternatives</h3>The OMFIF study also pointed out that the euro and renminbi are the top alternatives to the dollar among central banks. It also highlighted that emerging market currencies are getting attention. "This year, 29 per cent of respondents plan to increase euro holdings in the long term, up from 22 per cent last year," the survey report stated. However, the report underscored that both currencies have some handicaps. "Neither the euro nor the renminbi fully solves reserve managers' problem: the former lacks a single, deep safe asset market, while the latter remains constrained by market structure and geopolitical concerns," the report said. In addition, adoption of artificial intelligence (AI) among central banks allow to improve efficiency and decision-making. "89% of developed economy central banks report some form of artificial intelligence implementation, compared with 44% of emerging market peers," the report mentioned. The report found that volatility is being seen as something that needs better management rather than just a wait-and-watch approach. "The old assumption that public investors can wait for the environment to normalise looks increasingly unrealistic," the report said.&nbsp;

The survey found that about 61 per cent of central banks expect gold prices to trade between USD 5,000 and USD 6,000 per ounce by June 2027. However, 28 per cent indicated that current gold prices are already high enough to discourage additional purchases.

Gold has emerged as the top hedge for central banks amid ongoing geopolitical risks. According to a recent survey of public investors by the Official Monetary and Financial Institutions Forum (OMFIF), a net 30 per cent of central banks intend to increase their gold holdings over the next one to two years. The report noted that 82 per cent of central banks held physical gold reserves in 2026, compared with 71 per cent in the last year. The survey found that around 61 per cent of central banks expect the gold prices to trade between USD 5,000 and USD 6,000 per ounce by June 2027, while 28 per cent stated that recent prices are discouraging enough to make further purchases. "The motivation behind gold purchases is increasingly strategic rather than purely financial. Protection against geopolitical risk is cited by 51 per cent of respondents, up 11 per cent from 2024," according to the report. The survey found that about 61 per cent of central banks expect gold prices to trade between USD 5,000 and USD 6,000 per ounce by June 2027. However, 28 per cent indicated that current gold prices are already high enough to discourage additional purchases. Also read: What is Article 5 of US-Iran deal, and why is it being blamed for Hormuz unrest? WION Decodes Dollar alternatives The OMFIF study also pointed out that the euro and renminbi are the top alternatives to the dollar among central banks. It also highlighted that emerging market currencies are getting attention. "This year, 29 per cent of respondents plan to increase euro holdings in the long term, up from 22 per cent last year," the survey report stated. However, the report underscored that both currencies have some handicaps. "Neither the euro nor the renminbi fully solves reserve managers' problem: the former lacks a single, deep safe asset market, while the latter remains constrained by market structure and geopolitical concerns," the report said. In addition, adoption of artificial intelligence (AI) among central banks allow to improve efficiency and decision-making. "89% of developed economy central banks report some form of artificial intelligence implementation, compared with 44% of emerging market peers," the report mentioned. The report found that volatility is being seen as something that needs better management rather than just a wait-and-watch approach. "The old assumption that public investors can wait for the environment to normalise looks increasingly unrealistic," the report said.

The survey found that about 61 per cent of central banks expect gold prices to trade between USD 5,000 and USD 6,000 per ounce by June 2027. However, 28 per cent indicated that current gold prices are already high enough to discourage additional purchases.

Gold overtakes dollar emerging top hedge for central banks amid geopolitical risks, says report

After Prime Minister Narendra Modi on Monday (May 11) urged citizens to avoid buying gold for a year, the government has increased the import duty on gold and other precious metals. The orders will take effect from today. The Ministry of Finance on Wednesday (May 13) under Customs Notification No. 16/2026 &nbsp;said that Gold and Silver findings will attract 5 percent duty, while platinum findings will attract a 5.4 percent duty. The effective import duty on gold and silver has now shot up from from 6 per cent to 15 per cent.&nbsp;The measure is being taken to try and bring down ​overseas purchases of the metals and ease pressure on ⁠the country’s foreign exchange reserves.<h2>What does this mean for the Indian buyers and economy?</h2>&nbsp;The higher duties could lead to lower demand of the metal in the world’s second-largest consumer of gold. On the hindsight it may help scale own India’s trade ‌deficit and support the rupee that has not been performing well in the last few months.&nbsp;Notably, India does not produce gold and most of its demands are met through imports, which are paid for in US dollars.&nbsp;In 2025-26, gold imports made up 9-10 per cent of India's total import bill. It cost the state exchequer $71.98 billion (a record) to import gold and meet domestic demand.&nbsp;But India's forex reserves have dropped due to Middle East tensions and rising crude oil prices. Also, the International Monetary Fund (IMF) IMF projects a wider current account deficit (CAD) if the war continues.&nbsp;So, the move of increasing import duty on gold and other precious metals is being seen as a pre-emptive steps to save its forex reserves.&nbsp;

The higher import duties on gold and other precious metals could lead to lower demand of the metal in the world’s second-largest consumer. This could help stabalise the ruppe that has been performing poorly over the last few months.

After Prime Minister Narendra Modi on Monday (May 11) urged citizens to avoid buying gold for a year, the government has increased the import duty on gold and other precious metals. The orders will take effect from today. The Ministry of Finance on Wednesday (May 13) under Customs Notification No. 16/2026 said that Gold and Silver findings will attract 5 percent duty, while platinum findings will attract a 5.4 percent duty. The effective import duty on gold and silver has now shot up from from 6 per cent to 15 per cent. The measure is being taken to try and bring down overseas purchases of the metals and ease pressure on ⁠the country’s foreign exchange reserves. What does this mean for the Indian buyers and economy? The higher duties could lead to lower demand of the metal in the world’s second-largest consumer of gold. On the hindsight it may help scale own India’s trade ‌deficit and support the rupee that has not been performing well in the last few months. Notably, India does not produce gold and most of its demands are met through imports, which are paid for in US dollars. In 2025-26, gold imports made up 9-10 per cent of India's total import bill. It cost the state exchequer $71.98 billion (a record) to import gold and meet domestic demand. But India's forex reserves have dropped due to Middle East tensions and rising crude oil prices. Also, the International Monetary Fund (IMF) IMF projects a wider current account deficit (CAD) if the war continues. So, the move of increasing import duty on gold and other precious metals is being seen as a pre-emptive steps to save its forex reserves.

The higher import duties on gold and other precious metals could lead to lower demand of the metal in the world’s second-largest consumer. This could help stabalise the rupee that has been performing poorly over the last few months.

India raises gold, silver import duty. What does it mean for the buyers and falling rupee?

Prime Minister Narendra Modi on Sunday directed people to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and the use of non-essential gold purchases. PM Modi's appeal came while addressing a BJP rally in Hyderabad as US President Donald Trump rejected the latest peace proposals of Iran, resulting in rise of a global crude oil prices to more than $105 a barrel and intensifying concerns over inflation and energy security worldwide. The escalating tension in West Asia has kept the Strait of Hormuz, one of the world’s most critical oil shipping routes, disrupted for weeks, prompting fears of a prolonged crisis in the supply chain.<h3>Why does PM Modi appeals citizens to avoid buying gold?</h3>PM Modi on Sunday also appealed to citizens to avoid buying gold for at least one year, claiming that gold imports put additional pressure on India’s foreign exchange reserves amid a global crisis. India is one of the largest importers of gold in the world, where its demand rises exponentially during weddings and festive seasons.&nbsp;India consumes an estimated 700 to 800 tonnes of gold annually, accounting for nearly 9 per cent of its total import bill, after crude oil. The rise in gold demand led to the import of the item in large amounts, which put pressure on India's currency as it increased dollar outflow and widened the country’s import bill.<h3>How does gold affect India's economy?</h3>As we know, gold influences the strength of a currency. When a large amount of gold is imported, it increases dollar demand and weakens the Indian currency, as gold shapes money in more ways than most people think of it. Gold in India is considered a cultural symbol, a store of value and a silent indicator of economic stability.&nbsp;&nbsp;The best part of the item is that, despite modern economies which run on digital systems and complex policies, gold still decides how strong or weak a currency is. The import behaviour of gold directly affects the currency. When gold prices rise at the global level, the import bill of the item rises too, increasing the outflow of foreign exchange money from the country. If this outflow grows and exceeds more than required, it can put heavy pressure on the currency and may lead to depreciation.<h3>Here are some of the major areas impacted by rising gold imports in India:</h3><h3>1. Huge Drain on Foreign Exchange Reserves</h3>India is the world’s second-largest consumer of gold, yet it depends almost entirely on imports to meet demand. Since gold purchases are made in US dollars, large-scale imports lead to a significant outflow of foreign currency. The issue has become more significant as India’s foreign exchange reserves, which had risen close to $728.49 billion, have experienced volatility and declined toward the $690.69 billion mark due to increasing import costs and currency-related pressures. A weaker rupee further raises the domestic cost of imports, particularly crude oil and gold, increasing the country’s external economic vulnerabilities. Every increase in gold imports puts additional pressure on the Reserve Bank of India’s foreign exchange reserves, which are also required for critical imports such as crude oil.<h3>2. Increasing Pressure on the Indian Rupee</h3>Strong demand for US dollars to finance gold imports has added strain on the Indian rupee, which has fallen to historic lows. As of May 11, 2026, the rupee was trading near Rs 95.25 against the US dollar. To import gold, Indian buyers exchange rupees for dollars, increasing the supply of rupees in the market and weakening their value. A weaker rupee raises the cost of other imported goods, including fuel, electronics, and medicines. Over the past few years, the rupee has depreciated significantly—from around Rs 74–75 per dollar in 2021 to below Rs 95 in 2026, marking a decline of nearly 27–28 per cent. The pressure has intensified amid rising crude oil prices, tensions in the Middle East, and higher dollar outflows linked to imports and uncertainty over global energy supply routes.<h3>3. Trade and Current Account Deficit (CAD)</h3>A trade deficit occurs when a country’s imports exceed the value of its exports. In FY26, India’s trade deficit climbed to $333.2 billion. The Reserve Bank of India (RBI)'s data indicates that India's CAD stood at $13.2 billion, or 1.3 per cent of GDP, in the October-December quarter of FY26, compared to $11.5 billion in the last quarter. Precious metals such as gold and silver now make up over 5 per cent of the country’s total imports. By reducing gold purchases, the government aims to shrink this deficit, which could help stabilise and strengthen the Indian rupee.&nbsp;Also read:<a href="https://www.wionews.com/india-news/watch-pm-modi-attends-thrilling-iaf-surya-kiran-airshow-at-somnath-temple-celebrations-1778482456792"> WATCH: PM Modi attends thrilling IAF Surya Kiran airshow at Somnath Temple celebrations</a>

PM Modi has urged citizens to avoid gold purchases and unnecessary travel to protect foreign reserves. High gold demand drains dollars, weakens the Rupee, and widens the trade deficit, threatening economic stability.

Prime Minister Narendra Modi on Sunday directed people to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and the use of non-essential gold purchases. PM Modi's appeal came while addressing a BJP rally in Hyderabad as US President Donald Trump rejected the latest peace proposals of Iran, resulting in rise of a global crude oil prices to more than $105 a barrel and intensifying concerns over inflation and energy security worldwide. The escalating tension in West Asia has kept the Strait of Hormuz, one of the world’s most critical oil shipping routes, disrupted for weeks, prompting fears of a prolonged crisis in the supply chain. Why does PM Modi appeals citizens to avoid buying gold? PM Modi on Sunday also appealed to citizens to avoid buying gold for at least one year, claiming that gold imports put additional pressure on India’s foreign exchange reserves amid a global crisis. India is one of the largest importers of gold in the world, where its demand rises exponentially during weddings and festive seasons. India consumes an estimated 700 to 800 tonnes of gold annually, accounting for nearly 9 per cent of its total import bill, after crude oil. The rise in gold demand led to the import of the item in large amounts, which put pressure on India's currency as it increased dollar outflow and widened the country’s import bill. How does gold affect India's economy? As we know, gold influences the strength of a currency. When a large amount of gold is imported, it increases dollar demand and weakens the Indian currency, as gold shapes money in more ways than most people think of it. Gold in India is considered a cultural symbol, a store of value and a silent indicator of economic stability. The best part of the item is that, despite modern economies which run on digital systems and complex policies, gold still decides how strong or weak a currency is. The import behaviour of gold directly affects the currency. When gold prices rise at the global level, the import bill of the item rises too, increasing the outflow of foreign exchange money from the country. If this outflow grows and exceeds more than required, it can put heavy pressure on the currency and may lead to depreciation. Here are some of the major areas impacted by rising gold imports in India: 1. Huge Drain on Foreign Exchange Reserves India is the world’s second-largest consumer of gold, yet it depends almost entirely on imports to meet demand. Since gold purchases are made in US dollars, large-scale imports lead to a significant outflow of foreign currency. The issue has become more significant as India’s foreign exchange reserves, which had risen close to $728.49 billion, have experienced volatility and declined toward the $690.69 billion mark due to increasing import costs and currency-related pressures. A weaker rupee further raises the domestic cost of imports, particularly crude oil and gold, increasing the country’s external economic vulnerabilities. Every increase in gold imports puts additional pressure on the Reserve Bank of India’s foreign exchange reserves, which are also required for critical imports such as crude oil. 2. Increasing Pressure on the Indian Rupee Strong demand for US dollars to finance gold imports has added strain on the Indian rupee, which has fallen to historic lows. As of May 11, 2026, the rupee was trading near Rs 95.25 against the US dollar. To import gold, Indian buyers exchange rupees for dollars, increasing the supply of rupees in the market and weakening their value. A weaker rupee raises the cost of other imported goods, including fuel, electronics, and medicines. Over the past few years, the rupee has depreciated significantly—from around Rs 74–75 per dollar in 2021 to below Rs 95 in 2026, marking a decline of nearly 27–28 per cent. The pressure has intensified amid rising crude oil prices, tensions in the Middle East, and higher dollar outflows linked to imports and uncertainty over global energy supply routes. 3. Trade and Current Account Deficit (CAD) A trade deficit occurs when a country’s imports exceed the value of its exports. In FY26, India’s trade deficit climbed to $333.2 billion. The Reserve Bank of India (RBI)'s data indicates that India's CAD stood at $13.2 billion, or 1.3 per cent of GDP, in the October-December quarter of FY26, compared to $11.5 billion in the last quarter. Precious metals such as gold and silver now make up over 5 per cent of the country’s total imports. By reducing gold purchases, the government aims to shrink this deficit, which could help stabilise and strengthen the Indian rupee. Also read: WATCH: PM Modi attends thrilling IAF Surya Kiran airshow at Somnath Temple celebrations

PM Modi has urged citizens to avoid gold purchases and unnecessary travel to protect foreign reserves. High gold demand drains dollars, weakens the Rupee, and widens the trade deficit, threatening economic stability.

Why PM Modi asked Indians not to buy gold for a year? WION explains

Amid the ongoing conflict in West Asia, Dubai is offering gold at massive discounts while prices have surged to record highs of around Rs 1,60,000 per 10 grams. Indians are therefore looking at importing the safe-haven metal from the United Arab Emirates. Here are the laws and taxes levied by Indian authorities if you are looking to bring gold from Dubai.&nbsp;For years, Indian passengers were restricted by a dual cap on gold jewellery: a specific weight limit and a rigid rupee value limit. Under the old 2016 rules, a woman could bring 40 grams of gold, but only if its value did not exceed Rs 1,00,000. As gold prices hover around Rs 1,50,000 per 10 grams in 2026, that old value cap effectively criminalised anyone carrying more than 7 grams of gold.&nbsp;The Baggage Rules 2026 have officially abolished these value caps. For eligible passengers (Indian residents or tourists of Indian origin who have resided abroad for more than one year), the duty-free allowance is now governed strictly by weight:&nbsp;Female passengers: 40 grams of gold jewellery&nbsp;Male passengers: 20 grams of gold jewellery&nbsp;Children (under 15): 40 grams of gold jewellery&nbsp;This change means a female passenger can now carry jewellery worth approximately Rs 6,00,000 entirely duty-free, provided it stays within the 40-gram limit. “Jewellery” under these rules includes ornaments made of gold, silver, or platinum, including those studded with precious stones.<h2>Strict regulations for raw Gold</h2>While jewellery rules have been relaxed, the stance on raw gold remains stringent.If you have been abroad for less than one year, you must include any new jewellery within your General Free Allowance (now Rs 75,000 for Indian residents).<h2>Gold bars, coins, and biscuits carry no duty-free allowance</h2>Whether you are carrying a 1-gram coin or a 100-gram bar, it must be declared at the airport’s Red Channel. The duty structure for raw gold is tiered based on your stay abroad:&nbsp;Concessional rate (stay more than six months): &nbsp;Eligible passengers can bring up to 1 kg of gold by paying a concessional duty of approximately 6% (comprising 5% Basic Customs Duty and 1% AIDC). This must be paid in convertible foreign currency.&nbsp;Standard rate (stay less than six months): Short-term travellers or those who do not meet the residency requirement are charged a much higher “hand baggage” rate, typically around 38.5%.&nbsp;Compliance and Digital Declaration&nbsp;To speed up clearances, the Ministry of Finance has integrated these rules with the ATITHI mobile app. Passengers are encouraged to file a digital declaration before landing. Upon arrival, those with items to declare must proceed to the Red Channel.&nbsp;It is vital to carry original purchase invoices for all gold items. Failure to declare gold exceeding the weight limits, or any amount of raw gold, can lead to severe consequences, including heavy fines, seizure of the metal, and prosecution under the Customs Act, 1962.

As airspace over the Gulf has been partially closed due to the war in West Asia, triggering a logistical bottleneck, Dubai is offering gold at massive discounts while prices in India remain at record highs.

Amid the ongoing conflict in West Asia, Dubai is offering gold at massive discounts while prices have surged to record highs of around Rs 1,60,000 per 10 grams. Indians are therefore looking at importing the safe-haven metal from the United Arab Emirates. Here are the laws and taxes levied by Indian authorities if you are looking to bring gold from Dubai. For years, Indian passengers were restricted by a dual cap on gold jewellery: a specific weight limit and a rigid rupee value limit. Under the old 2016 rules, a woman could bring 40 grams of gold, but only if its value did not exceed Rs 1,00,000. As gold prices hover around Rs 1,50,000 per 10 grams in 2026, that old value cap effectively criminalised anyone carrying more than 7 grams of gold. The Baggage Rules 2026 have officially abolished these value caps. For eligible passengers (Indian residents or tourists of Indian origin who have resided abroad for more than one year), the duty-free allowance is now governed strictly by weight: Female passengers: 40 grams of gold jewellery Male passengers: 20 grams of gold jewellery Children (under 15): 40 grams of gold jewellery This change means a female passenger can now carry jewellery worth approximately Rs 6,00,000 entirely duty-free, provided it stays within the 40-gram limit. “Jewellery” under these rules includes ornaments made of gold, silver, or platinum, including those studded with precious stones. Strict regulations for raw Gold While jewellery rules have been relaxed, the stance on raw gold remains stringent. If you have been abroad for less than one year, you must include any new jewellery within your General Free Allowance (now Rs 75,000 for Indian residents). Gold bars, coins, and biscuits carry no duty-free allowance Whether you are carrying a 1-gram coin or a 100-gram bar, it must be declared at the airport’s Red Channel. The duty structure for raw gold is tiered based on your stay abroad: Concessional rate (stay more than six months): Eligible passengers can bring up to 1 kg of gold by paying a concessional duty of approximately 6% (comprising 5% Basic Customs Duty and 1% AIDC). This must be paid in convertible foreign currency. Standard rate (stay less than six months): Short-term travellers or those who do not meet the residency requirement are charged a much higher “hand baggage” rate, typically around 38.5%. Compliance and Digital Declaration To speed up clearances, the Ministry of Finance has integrated these rules with the ATITHI mobile app. Passengers are encouraged to file a digital declaration before landing. Upon arrival, those with items to declare must proceed to the Red Channel. It is vital to carry original purchase invoices for all gold items. Failure to declare gold exceeding the weight limits, or any amount of raw gold, can lead to severe consequences, including heavy fines, seizure of the metal, and prosecution under the Customs Act, 1962.

As airspace over the Gulf has been partially closed due to the war in West Asia, triggering a logistical bottleneck, Dubai is offering gold at massive discounts while prices in India remain at record highs.

How much gold can Indians bring from Dubai as West Asia war sparks gold rush?

Gold traders in Dubai are offering bullion at steep discounts after the conflict in the Middle East disrupted flights and stranded shipments in one of the world’s key trading hubs.<h2>How much discount is Dubai offering on Gold?</h2>According to a Bloomberg report citing traders familiar with the situation, some dealers are selling gold at discounts of up to $30 an ounce compared with the global benchmark set in London. The unusual pricing reflects mounting logistical problems as suppliers struggle to move bullion out of the region.Many buyers have paused new orders for now. With air travel disrupted and delivery timelines uncertain, traders say customers are unwilling to pay higher shipping and insurance costs without a clear guarantee the gold will arrive on time.Also read | <a href="https://www.wionews.com/world/trump-reveals-secret-3-month-head-start-on-exquisite-class-weapon-production-to-fuel-operation-epic-fury-against-iran-bae-lockheed-and-raytheon-1772844959324">Trump reveals secret weapon production started 3-months before Iran war</a><h2>Flights grounded, shipments delayed</h2>Several gold shipments were still stuck in Dubai as of Friday, traders said. Some cargo began moving again only in the middle of the week as limited flights resumed.The United Arab Emirates, and particularly Dubai, plays a central role in the global gold trade. The city is a major refining and export hub for bullion moving to buyers across Asia and also handles shipments arriving from Switzerland, the UK and several African producers.But airspace in the region has been partially restricted amid a wave of Iranian missile attacks during the ongoing conflict between the United States, Israel and Iran.<h2>Gold Shipments Stranded</h2>Gold is usually transported in the cargo holds of passenger planes. With flights severely limited, traders have been reluctant to move high-value shipments overland to airports in neighbouring countries such as Saudi Arabia or Oman, citing security and logistical risks.Also read | <a href="https://www.wionews.com/world/pakistani-man-asif-raza-merchant-conviction-trump-assassination-plot-soleimani-revenge-irgc-hitman-joe-biden-nikki-haley-napkin-plan-1772855367186">Pak man found guilty of Iran Revolutionary Guard backed revenge plot to assassinate Trump</a><h2>Why is the discounted gold bad news for Indians?</h2>The disruption has been felt in India, one of the biggest destinations for gold shipped out of Dubai.Renisha Chainani, head of research at Augmont Enterprises Ltd., said "several cargo shipments have been delayed or stranded, leading to short-term tightness in the availability of physical bullion in India".For now, however, Indian buyers appear in no hurry. Chirag Sheth, principal consultant for South Asia at Metals Focus, said India's domestic inventories remain comfortable after heavy imports in January. "As of now, there is ample stock," he said. "But if this drags on for a few months, then there will be a problem." &nbsp;

Why are gold traders in Dubai suddenly offering heavy discounts? Bullion is reportedly selling up to $30 per ounce below global prices amid the Iran war.

What does this mean for global markets and Indian buyers? Scroll down to read.

Gold traders in Dubai are offering bullion at steep discounts after the conflict in the Middle East disrupted flights and stranded shipments in one of the world’s key trading hubs. How much discount is Dubai offering on Gold? According to a Bloomberg report citing traders familiar with the situation, some dealers are selling gold at discounts of up to $30 an ounce compared with the global benchmark set in London. The unusual pricing reflects mounting logistical problems as suppliers struggle to move bullion out of the region. Many buyers have paused new orders for now. With air travel disrupted and delivery timelines uncertain, traders say customers are unwilling to pay higher shipping and insurance costs without a clear guarantee the gold will arrive on time. Also read | Trump reveals secret weapon production started 3-months before Iran war Flights grounded, shipments delayed Several gold shipments were still stuck in Dubai as of Friday, traders said. Some cargo began moving again only in the middle of the week as limited flights resumed. The United Arab Emirates, and particularly Dubai, plays a central role in the global gold trade. The city is a major refining and export hub for bullion moving to buyers across Asia and also handles shipments arriving from Switzerland, the UK and several African producers. But airspace in the region has been partially restricted amid a wave of Iranian missile attacks during the ongoing conflict between the United States, Israel and Iran. Gold Shipments Stranded Gold is usually transported in the cargo holds of passenger planes. With flights severely limited, traders have been reluctant to move high-value shipments overland to airports in neighbouring countries such as Saudi Arabia or Oman, citing security and logistical risks. Also read | Pak man found guilty of Iran Revolutionary Guard backed revenge plot to assassinate Trump Why is the discounted gold bad news for Indians? The disruption has been felt in India, one of the biggest destinations for gold shipped out of Dubai. Renisha Chainani, head of research at Augmont Enterprises Ltd., said "several cargo shipments have been delayed or stranded, leading to short-term tightness in the availability of physical bullion in India". For now, however, Indian buyers appear in no hurry. Chirag Sheth, principal consultant for South Asia at Metals Focus, said India's domestic inventories remain comfortable after heavy imports in January. "As of now, there is ample stock," he said. "But if this drags on for a few months, then there will be a problem."

Why are gold traders in Dubai suddenly offering heavy discounts? Bullion is reportedly selling up to $30 per ounce below global prices amid the Iran war.What does this mean for global markets and Indian buyers? Scroll down to read.

Amid Iran war Dubai selling gold at discount, but it’s bad news for India. Here’s why

Ever since Trump first threatened tariffs in his push for Greenland acquisition, gold has moved up 8.6% to new highs near $5,000, while bitcoin has lost 6.6 % of its value. So in the coming days, let's try to understand which is a safe haven for investors to invest amid a crisis.

Ever since Trump first threatened tariffs in his push for Greenland acquisition, gold has moved up 8.6% to new highs near $5,000, while bitcoin has lost 6.6 % of its value. So in the coming days, let's try to understand which is a safe haven for investors to invest amid a crisis.

Gold vs Bitcoin: Which is the real safe haven for investors in 2026? Details inside

As of 2025, a small group of countries holds the vast majority of the world's untapped gold, with the top 10 nations accounting for over 85 per cent of global unmined reserves. The following are the top five nations with the largest economically recoverable unmined gold reserves.

As of 2025, a small group of countries holds the vast majority of the world's untapped gold, with the top 10 nations accounting for over 85 per cent of global unmined reserves. The following are the top five nations with the largest economically recoverable unmined gold reserves.

Where is world's remaining gold? Top 5 countries that control future of unmined reserves

Gold and silver prices plunged nearly nine per cent each on the Multi-Commodity Exchange on Sunday, marking one of the steepest two-day sell-offs in the history of precious metals. The sharp decline came on Budget day, when possible changes to import duties were being speculated. It left the market participants unsure whether the drop presents a buying opportunity or signals deeper trouble for India's jewellery trade.&nbsp;MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session, as per the media reports.&nbsp;Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent. Gold’s fall was its worst single-day drop since the early 1980s, and silver recorded its sharpest decline on record.<h3>A wide gap down on MCX as trading resumes</h3>The deeper fall occurred after Indian equities closed for the weekend, prompting a wide gap down on MCX when trading started. In addition, ETFs experienced another round of resets in price after losing fifteen to twenty per cent on Friday. Meanwhile, MCX shares dip to nine per cent as exchange-linked volatility spreads across the market.&nbsp;The crash followed amid speculation by the bullion traders who are watching for a move on import duties on Budget Day. Currently, Gold and silver bars are taxed with about six per cent basic customs duty and three per cent GST, accounting for the total load to nearly nine per cent, marking a lower rate than earlier years when duty stood near fifteen per cent and had propelled large-scale smuggling.&nbsp;Speculation is now focused on whether the Finance Minister will reduce the duty from six per cent to four per cent. If implemented, the move could push domestic gold prices down by Rs 2,000–Rs 3,000 per 10 grams and lower silver prices by around Rs 6,000 per kilogram, assuming global prices stay stable.&nbsp;Also read: <a href="https://www.wionews.com/world/gold-slides-5-from-record-highs-as-china-halts-trading-in-silver-oil-funds-1769773710217">Gold tumbles 5%, extends record-high selloff; China suspends silver, oil fund trading</a>

MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session. Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent. 

Gold and silver prices plunged nearly nine per cent each on the Multi-Commodity Exchange on Sunday, marking one of the steepest two-day sell-offs in the history of precious metals. The sharp decline came on Budget day, when possible changes to import duties were being speculated. It left the market participants unsure whether the drop presents a buying opportunity or signals deeper trouble for India's jewellery trade. MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session, as per the media reports. Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent. Gold’s fall was its worst single-day drop since the early 1980s, and silver recorded its sharpest decline on record. A wide gap down on MCX as trading resumes The deeper fall occurred after Indian equities closed for the weekend, prompting a wide gap down on MCX when trading started. In addition, ETFs experienced another round of resets in price after losing fifteen to twenty per cent on Friday. Meanwhile, MCX shares dip to nine per cent as exchange-linked volatility spreads across the market. The crash followed amid speculation by the bullion traders who are watching for a move on import duties on Budget Day. Currently, Gold and silver bars are taxed with about six per cent basic customs duty and three per cent GST, accounting for the total load to nearly nine per cent, marking a lower rate than earlier years when duty stood near fifteen per cent and had propelled large-scale smuggling. Speculation is now focused on whether the Finance Minister will reduce the duty from six per cent to four per cent. If implemented, the move could push domestic gold prices down by Rs 2,000–Rs 3,000 per 10 grams and lower silver prices by around Rs 6,000 per kilogram, assuming global prices stay stable. Also read: Gold tumbles 5%, extends record-high selloff; China suspends silver, oil fund trading

MCX gold tumbled Rs 13,711 to Rs 1,38,634 per 10 grams, while silver slid Rs 26,273 to Rs 2,65,652 per kg, steeper losses than the six per cent fall seen earlier in the session. Silver had plunged up to 37 per cent intraday on Friday, while global spot gold sank 12 per cent.&nbsp;

Gold, Silver crash 9% on Budget Day in one of worst sell-offs ever

After delivering its strongest annual performance since 1971, the gold rally of 2025 is expected to moderate in 2026, with prices likely to stabilise at a higher range of $4,000–$4,500. The prices of gold will be determined by the factors that include US Federal Reserve (Fed) easing, robust central bank and retail demand, ETF inflows, elevated stock/bond correlations, and global debt concerns.&nbsp;Meanwhile, major banks, including HSBC, ANZ, and Bank of America, updated their forecasts for 2026 and predicted that the rise of gold prices will be due to geopolitical risks in the US Federal Reserve policies and economic uncertainty. Analysts predicted that the demand for gold as a safe-haven and diversification asset will continue in 2026, according to a report in ET.&nbsp;HSBC bank indicated that gold could reach $5,000 per ounce by 2026, and the bank has also increased its 2025 average gold price forecast by $100 to $3,455 per ounce. It confirmed that the result of gold price will be driven by geopolitical tensions, global economic uncertainty, and a weakening US dollar.<h3>Gold price expected to decline after June 2026?</h3>The bank said the gold rally is expected to continue through the first half of 2026, supported by rising public debt levels and policy uncertainty. In addition, other major financial institutions have also revised the predictions of the gold price. ANZ predicted that gold is expected to rise to around $4,600 per ounce by June 2026. However, the price is expected to decline gradually in the second half of the year as the Federal Reserve concludes its easing cycle.&nbsp;Bank of America has lifted its gold price forecast for 2026 to $5,000 an ounce, while Goldman Sachs sees the metal reaching $4,900 by December that year. UBS said falling real interest rates, potentially turning negative, could drive prices close to $4,700.&nbsp;Societe Generale has also projected gold hitting $5,000 by the end of 2026. While estimates from Standard Chartered, Commerzbank, Deutsche Bank and Citi Research vary, they broadly agree that the outlook remains bullish through 2025 and into early 2026.&nbsp;Analysts say steady buying by central banks, retail investors and institutional funds will continue to underpin prices. Lower interest rates, policy uncertainty and diversification needs are expected to keep gold a key asset through 2026.&nbsp;

Analysts say steady buying by central banks, retail investors and institutional funds will continue to underpin prices. Lower interest rates, policy uncertainty and diversification needs are expected to keep gold a key asset through 2026.

After delivering its strongest annual performance since 1971, the gold rally of 2025 is expected to moderate in 2026, with prices likely to stabilise at a higher range of $4,000–$4,500. The prices of gold will be determined by the factors that include US Federal Reserve (Fed) easing, robust central bank and retail demand, ETF inflows, elevated stock/bond correlations, and global debt concerns. Meanwhile, major banks, including HSBC, ANZ, and Bank of America, updated their forecasts for 2026 and predicted that the rise of gold prices will be due to geopolitical risks in the US Federal Reserve policies and economic uncertainty. Analysts predicted that the demand for gold as a safe-haven and diversification asset will continue in 2026, according to a report in ET. HSBC bank indicated that gold could reach $5,000 per ounce by 2026, and the bank has also increased its 2025 average gold price forecast by $100 to $3,455 per ounce. It confirmed that the result of gold price will be driven by geopolitical tensions, global economic uncertainty, and a weakening US dollar. Gold price expected to decline after June 2026? The bank said the gold rally is expected to continue through the first half of 2026, supported by rising public debt levels and policy uncertainty. In addition, other major financial institutions have also revised the predictions of the gold price. ANZ predicted that gold is expected to rise to around $4,600 per ounce by June 2026. However, the price is expected to decline gradually in the second half of the year as the Federal Reserve concludes its easing cycle. Bank of America has lifted its gold price forecast for 2026 to $5,000 an ounce, while Goldman Sachs sees the metal reaching $4,900 by December that year. UBS said falling real interest rates, potentially turning negative, could drive prices close to $4,700. Societe Generale has also projected gold hitting $5,000 by the end of 2026. While estimates from Standard Chartered, Commerzbank, Deutsche Bank and Citi Research vary, they broadly agree that the outlook remains bullish through 2025 and into early 2026. Analysts say steady buying by central banks, retail investors and institutional funds will continue to underpin prices. Lower interest rates, policy uncertainty and diversification needs are expected to keep gold a key asset through 2026.

Analysts say steady buying by central banks, retail investors and institutional funds will continue to underpin prices. Lower interest rates, policy uncertainty and diversification needs are expected to keep gold a key asset through 2026.

Is gold still the ultimate safe haven in 2026? Here’s what banks and analysts forecast

Gold trades around the world every second. But not all gold prices mean the same thing. Two of the most common terms you’ll see are spot gold and gold in the futures. Understanding the difference is important for investors, traders, and anyone buying or selling physical gold. 

Will I Get Spot Price for My Gold? 

Each asset serves a distinct purpose: gold as a store of value, real estate as a tangible growth asset, and fixed deposits as a source of stability. 

Each asset serves a distinct purpose: gold as a store of value, real estate as a tangible growth asset, and fixed deposits as a source of stability.&nbsp;

Gold vs real estate vs FDs: How returns, taxes and liquidity are redefining wealth creation

Understanding why prices are high, what role gold plays in a portfolio, what to invest in and how different investment routes work is essential before making the first purchase.

Understanding why prices are high, what role gold plays in a portfolio, what to invest in and how different investment routes work is essential before making the first purchase.&nbsp;

Gold for first-time investors: What beginners should know before buying at record highs

Silver surged over 120 per cent in 2025, outperforming gold due to massive demand from solar and EVs. With a 5-year supply deficit, analysts predict silver could reach $100 per ounce by 2026.

Silver surged over 120 per cent in 2025, outperforming gold due to massive demand from solar and EVs. With a 5-year supply deficit, analysts predict silver could reach $100 per ounce by 2026.

Can Silver outperform Gold in future due to rise in demand?

The prices of gold and silver have hit record highs, in a pattern seen throughout 2025. This reflects the risk-averse sentiment of investors, who have amassed gold and silver. Its been the pattern in past decades too, with the price of gold rising in anticipation of, and during, crises. The current high prices, particularly since the Ukraine–Russia war of 2022 onwards, could indicate that the gloom and doom is likely to continue in 2026, if one goes by historical precedents.<h2>The rise of gold and silver in 2025</h2>Gold, which was around $2,624 per ounce at the start of 2025, is at a record high of around $4,400 per ounce by late December, a rise of around 68 per cent on the year. Silver is up from $29 per ounce to $69 per ounce, an even higher spike of 133 per cent on the year. This is one of the biggest annual rises for both metals since 1979.<a href="https://www.wionews.com/videos/gold-bet-to-surge-to-5-000-ounce-in-2026-1766295259367/embed">https://www.wionews.com/videos/gold-bet-to-surge-to-5-000-ounce-in-2026-1766295259367/embed</a><h2>Gold and silver: Safe-haven assets amid uncertainties</h2>Investors flock to these so-called safe-haven assets when geopolitical tensions continue, most of which have a direct impact on oil prices: the Ukraine–Russia war, US–Venezuela tensions, and conflicts in the Middle East, particularly the Gaza war.Silver is not only a safe haven, but also has strong industrial use in current technologies such as electric vehicles, solar energy and electronics.US tariffs under President Donald Trump, and trade wars have added to the uncertainties. There are also fears about inflation, both in the US and elsewhere. One of the longest US government shutdowns exacerbated the situation.&nbsp;Also read: <a href="https://www.wionews.com/world/china-asia-largest-undersea-gold-deposit-jiaodong-1766215700701">China uncovers Asia’s largest offshore gold deposit in East China Sea</a><h2>Interest rate cuts by central banks make gold more attractive</h2>The US central bank, the Federal Reserve, made several interest rate cuts in 2025, with more such cuts likely in 2026. Such interest rate cuts are leading more investors to opt for gold. When central banks cut interest rates, assets like bonds and savings become less attractive because they stop giving good yields to investors. Therefore, rate cuts often increase the demand for gold - which is a non-yield asset - as an alternative investment, boosting its price.&nbsp;Central banks, like the Reserve Bank of India, are also adding to their gold reserves, which crossed 880 metric tonnes by late 2025, as against 820 MT in mid 2024.<h2>A pattern in history: How precious metals rise ahead of and during global shocks and tensions</h2>Historically, investment in gold has risen as a hedge against ongoing uncertainties and as a way to counter the lowering of currency values.&nbsp;There is a clear pattern in which the prices of gold, and often silver to a lesser extent, rise ahead of or during major shocks such as wars, oil crises or economic turmoil.Gold often behaves like an earthquake predictor, surging beforehand as investors price in risk. It stabilises or dips as the crisis resolves.<h2>Gold price spike patterns since 1973</h2>After the Yom Kippur War and the OPEC oil embargo of 1973, oil prices quadrupled, causing both stagflation and inflation in America and globally. Gold price doubled from around $100 per ounce to over $200 per ounce by 1974. This was in anticipation of the crisis amid the fall in value of the dollar, the world’s reserve currency.The next big rise in gold prices was during the 1979–1980 oil crisis that came after events such as the Iranian Revolution and the Soviet invasion of Afghanistan. That ‘oil shock’ led to high inflation, and gold peaked at around $850 per ounce. This remains the strongest bull run in gold connected to geopolitical shocks.The next big spike in the yellow metal took place during the Gulf War of 1990–1991, following Iraq’s invasion of Kuwait. Gold rose by around 20 per cent.The US invasion of Iraq in 2003 was another growth point for gold, which got sustained gains by around 50 per cent during the conflict that followed.Also read: <a href="https://www.wionews.com/world/is-us-dollar-dying-slowly-this-economist-thinks-so-as-gold-silver-surge-countries-including-india-trim-us-treasury-holdings-1765964339109">Is US dollar dying slowly? This economist thinks so as gold, silver surge, countries including India trim US Treasury holdings</a>&nbsp;During the global financial crisis of 2008, which followed the collapse of subprime mortgage market in the US, gold saw a period of growth until around 2009. Amid the disruption of global banking and stock crashes across the world, gold surged by around 25 per cent, in a classic case of a safe-haven response.The next big spike for gold was during the Covid pandemic that started in 2020. Global lockdowns and the shutdown of entire national economies led to a then-record growth in gold prices of nearly 27 per cent, to about $2,000 per ounce.&nbsp;Uncertainty about the economic future of the world, combined with stimulus packages by various governments, drove demand for the precious metal.<h2>Gold prices are a predictor of impending global tremors</h2>The current rally in gold is mainly due to the Russia–Ukraine war and other conflicts, and talk of another world war, which is yet to materialise. Geopolitical crises add a premium to gold prices, which grow as a pre-emptive measure to absorb shocks. Investors usually sense rising anxiety and risk before it becomes fully visible.That explains why gold, which was at around $2,624 at the start of 2025, rose with each shock this year: from the initial tariff threats by Trump, to the “Liberation Day” tariff announcements, to trade tensions with various countries and US sanctions on Venezuela. As mentioned, the US government shutdown, the Ukraine–Russia war amid a failing peace process, ongoing Middle East tensions and supply-chain disruptions are all adding to the rise.

Gold and silver prices are now at record highs,  reflecting rising global uncertainty. The precious metals usually surge ahead of wars, inflation and economic shocks, signalling crises before they unfold. Here is how

The prices of gold and silver have hit record highs, in a pattern seen throughout 2025. This reflects the risk-averse sentiment of investors, who have amassed gold and silver. Its been the pattern in past decades too, with the price of gold rising in anticipation of, and during, crises. The current high prices, particularly since the Ukraine–Russia war of 2022 onwards, could indicate that the gloom and doom is likely to continue in 2026, if one goes by historical precedents. The rise of gold and silver in 2025 Gold, which was around $2,624 per ounce at the start of 2025, is at a record high of around $4,400 per ounce by late December, a rise of around 68 per cent on the year. Silver is up from $29 per ounce to $69 per ounce, an even higher spike of 133 per cent on the year. This is one of the biggest annual rises for both metals since 1979. https://www.wionews.com/videos/gold-bet-to-surge-to-5-000-ounce-in-2026-1766295259367/embed Gold and silver: Safe-haven assets amid uncertainties Investors flock to these so-called safe-haven assets when geopolitical tensions continue, most of which have a direct impact on oil prices: the Ukraine–Russia war, US–Venezuela tensions, and conflicts in the Middle East, particularly the Gaza war. Silver is not only a safe haven, but also has strong industrial use in current technologies such as electric vehicles, solar energy and electronics. US tariffs under President Donald Trump, and trade wars have added to the uncertainties. There are also fears about inflation, both in the US and elsewhere. One of the longest US government shutdowns exacerbated the situation. Also read: China uncovers Asia’s largest offshore gold deposit in East China Sea Interest rate cuts by central banks make gold more attractive The US central bank, the Federal Reserve, made several interest rate cuts in 2025, with more such cuts likely in 2026. Such interest rate cuts are leading more investors to opt for gold. When central banks cut interest rates, assets like bonds and savings become less attractive because they stop giving good yields to investors. Therefore, rate cuts often increase the demand for gold - which is a non-yield asset - as an alternative investment, boosting its price. Central banks, like the Reserve Bank of India, are also adding to their gold reserves, which crossed 880 metric tonnes by late 2025, as against 820 MT in mid 2024. A pattern in history: How precious metals rise ahead of and during global shocks and tensions Historically, investment in gold has risen as a hedge against ongoing uncertainties and as a way to counter the lowering of currency values. There is a clear pattern in which the prices of gold, and often silver to a lesser extent, rise ahead of or during major shocks such as wars, oil crises or economic turmoil. Gold often behaves like an earthquake predictor, surging beforehand as investors price in risk. It stabilises or dips as the crisis resolves. Gold price spike patterns since 1973 After the Yom Kippur War and the OPEC oil embargo of 1973, oil prices quadrupled, causing both stagflation and inflation in America and globally. Gold price doubled from around $100 per ounce to over $200 per ounce by 1974. This was in anticipation of the crisis amid the fall in value of the dollar, the world’s reserve currency. The next big rise in gold prices was during the 1979–1980 oil crisis that came after events such as the Iranian Revolution and the Soviet invasion of Afghanistan. That ‘oil shock’ led to high inflation, and gold peaked at around $850 per ounce. This remains the strongest bull run in gold connected to geopolitical shocks. The next big spike in the yellow metal took place during the Gulf War of 1990–1991, following Iraq’s invasion of Kuwait. Gold rose by around 20 per cent. The US invasion of Iraq in 2003 was another growth point for gold, which got sustained gains by around 50 per cent during the conflict that followed. Also read: Is US dollar dying slowly? This economist thinks so as gold, silver surge, countries including India trim US Treasury holdings During the global financial crisis of 2008, which followed the collapse of subprime mortgage market in the US, gold saw a period of growth until around 2009. Amid the disruption of global banking and stock crashes across the world, gold surged by around 25 per cent, in a classic case of a safe-haven response. The next big spike for gold was during the Covid pandemic that started in 2020. Global lockdowns and the shutdown of entire national economies led to a then-record growth in gold prices of nearly 27 per cent, to about $2,000 per ounce. Uncertainty about the economic future of the world, combined with stimulus packages by various governments, drove demand for the precious metal. Gold prices are a predictor of impending global tremors The current rally in gold is mainly due to the Russia–Ukraine war and other conflicts, and talk of another world war, which is yet to materialise. Geopolitical crises add a premium to gold prices, which grow as a pre-emptive measure to absorb shocks. Investors usually sense rising anxiety and risk before it becomes fully visible. That explains why gold, which was at around $2,624 at the start of 2025, rose with each shock this year: from the initial tariff threats by Trump, to the “Liberation Day” tariff announcements, to trade tensions with various countries and US sanctions on Venezuela. As mentioned, the US government shutdown, the Ukraine–Russia war amid a failing peace process, ongoing Middle East tensions and supply-chain disruptions are all adding to the rise.

Gold and silver prices are now at record highs, &nbsp;reflecting rising global uncertainty. The precious metals usually surge ahead of wars, inflation and economic shocks, signalling crises before they unfold. Here is how

Gold and silver at record highs mean the world is heading for bigger crises? Lessons from history

Poland led global gold buying in 2024 with 90t, followed by Turkey (75t) and India (73t) as emerging-market central banks drove demand after geopolitical and economic uncertainty kept gold a preferred reserve asset. Here's the list of the top Central Banks that bought most gold in 2024.

Poland led global gold buying in 2024 with 90t, followed by Turkey (75t) and India (73t) as emerging-market central banks drove demand after geopolitical and economic uncertainty kept gold a preferred reserve asset. Here's the list of the top Central Banks that bought most gold in 2024.

Who’s hoarding the gold? List of the top 5 central banks that bought the most gold

Gold prices are subject to market fluctuation; any discrepancies in the prices of Gold are due to the difference between the time of reporting and the time of consumption. As of October 7, 2025, the top 10 nations with the lowest price of a gram of gold in INR are as follows.

Gold prices are subject to market fluctuation; any discrepancies in the prices of Gold are due to the difference between the time of reporting and the time of consumption. As of October 7, 2025, the top 10 nations with the lowest price of a gram of gold in INR are as follows.

Global gold prices- Top 10 countries with lowest gold price

Goldman Sachs has said in a report that gold will continue to rally till December of the next calendar&nbsp;year. The American outfit said that factors like strong private and institutional demand, rising equity traded fund (ETF) holdings, and central bank purchases, which have driven gold's upsurge of 47 per cent this year, will likely help the precious metal carry the momentum till the end of the next calendar year.&nbsp;Gold was trading at USD 3,937 per ounce on the international market. In India, the yellow metal was trading at approximately Rs 1.21 lakh per 10 grams.&nbsp;The report from Goldman Sachs' Commodities Research said that gold has rallied 14 per cent since August.&nbsp;The investment bank said that the gold price can rise to USD 4000 per ounce by mid-2026. It can further&nbsp;rise to USD 4,300 by December 2026.&nbsp;"The upside risks to our USD 4,000/toz mid-2026 and USD 4,300/toz December 2026 gold price forecast have intensified," noted the report.&nbsp;It further said that speculative positioning explains only a modest part of the latest rally, rather it suggests a larger underlying shift in investor behaviour.&nbsp;<a href="https://www.wionews.com/india-news/over-1-000kg-gold-smuggled-across-lac-into-ladakh-in-2-years-here-s-how-ed-exposes-deep-rooted-syndicate-1757564678341">Also read: Over 1,000kg gold smuggled across LAC into Ladakh in 2 years: Here's how ED exposes deep-rooted syndicate</a>&nbsp;The investment bank said in the report that investors should view gold as a key portfolio stabilizer, not just a hedge amid global financial uncertainty.&nbsp;Goldman Sachs reaffirmed gold as its top long-term commodity recommendation. The bank said that this is because the precious metal has shown&nbsp;price upside driven by structurally higher central bank demand, potential for further private sector diversification, and strong hedging properties during downside risk scenarios.

Gold investment news: The investment bank said in the report that investors should view gold as a key portfolio stabilizer, not just a hedge amid global financial uncertainty.

Goldman Sachs has said in a report that gold will continue to rally till December of the next calendar year. The American outfit said that factors like strong private and institutional demand, rising equity traded fund (ETF) holdings, and central bank purchases, which have driven gold's upsurge of 47 per cent this year, will likely help the precious metal carry the momentum till the end of the next calendar year. Gold was trading at USD 3,937 per ounce on the international market. In India, the yellow metal was trading at approximately Rs 1.21 lakh per 10 grams. The report from Goldman Sachs' Commodities Research said that gold has rallied 14 per cent since August. The investment bank said that the gold price can rise to USD 4000 per ounce by mid-2026. It can further rise to USD 4,300 by December 2026. "The upside risks to our USD 4,000/toz mid-2026 and USD 4,300/toz December 2026 gold price forecast have intensified," noted the report. It further said that speculative positioning explains only a modest part of the latest rally, rather it suggests a larger underlying shift in investor behaviour. Also read: Over 1,000kg gold smuggled across LAC into Ladakh in 2 years: Here's how ED exposes deep-rooted syndicate The investment bank said in the report that investors should view gold as a key portfolio stabilizer, not just a hedge amid global financial uncertainty. Goldman Sachs reaffirmed gold as its top long-term commodity recommendation. The bank said that this is because the precious metal has shown price upside driven by structurally higher central bank demand, potential for further private sector diversification, and strong hedging properties during downside risk scenarios.

Gold investment news: The investment bank said in the report that investors should view gold as a key portfolio stabilizer, not just a hedge amid global financial uncertainty.

When will gold cross $4000 mark? Goldman Sachs issues massive prediction

Global oil prices are not just a matter for petrol pumps, they have far-reaching effects on commodities like gold and silver. Analysts say rising crude prices often push precious metals higher, while declining oil can cool demand. Here’s how the connection works:

Global oil prices are not just a matter for petrol pumps, they have far-reaching effects on commodities like gold and silver. Analysts say rising crude prices often push precious metals higher, while declining oil can cool demand. Here’s how the connection works:

How global oil prices are impacting gold & silver markets

Gold and silver futures prices surged on Monday to a new high amid expectations that the US Federal Reserve might cut policy rates further. A weak US dollar also contributed to the rally. The December gold contract reached a high of Rs 1,15,939 per 10 grams on the Multi-Commodity Exchange (MCX). The October futures also reached a record Rs 1,14,992 per 10 grams. Silver futures for December also reached an all-time high of Rs 1,44,179 per kg.&nbsp;Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies at Angel One, told PTI that investors are considering whether to book profits or enter the market at these elevated prices. He said that the momentum was built by geopolitical occurrences like Donald Trump's tariff measures, the Russia-Ukraine war, and the US-China tensions.&nbsp;Jigar Trivedi, Senior Research Analyst at Reliance Securities, told the agency that the prices of gold are rising because investors anticipate Fed rate changes in October and December.<h2>Why is the price of gold rising?</h2>Global uncertainties like Trump's fresh round of tariffs on drugs may also prompt more investment in gold. In the near term, the prices may rise further.&nbsp;Internationally, gold jumped to a record high above $3,800 per ounce on Monday. The prices were supported by a weaker dollar and growing expectations that the Federal Reserve will cut interest rates further.&nbsp;Spot gold rose 1.5% to $3,814.91 per ounce by 0624 GMT. U.S. gold futures for December delivery gained 0.9% to $3,844, reported Reuters.&nbsp;Inflation in the US might lead the Federal Reserve to cut rates. It cut the rates by 0.25 percentage points. The markets believe that the rates will be cut further in October and December.&nbsp;Experts believe that the sentiment is bullish and more highs may be recorded over the next few days.

Gold and silver futures prices surged on Monday to a new high amid expectations that the US Federal Reserve might cut policy rates further. 

Gold and silver futures prices surged on Monday to a new high amid expectations that the US Federal Reserve might cut policy rates further. A weak US dollar also contributed to the rally. The December gold contract reached a high of Rs 1,15,939 per 10 grams on the Multi-Commodity Exchange (MCX). The October futures also reached a record Rs 1,14,992 per 10 grams. Silver futures for December also reached an all-time high of Rs 1,44,179 per kg. Prathamesh Mallya, DVP-Research, Non-Agri Commodities and Currencies at Angel One, told PTI that investors are considering whether to book profits or enter the market at these elevated prices. He said that the momentum was built by geopolitical occurrences like Donald Trump's tariff measures, the Russia-Ukraine war, and the US-China tensions. Jigar Trivedi, Senior Research Analyst at Reliance Securities, told the agency that the prices of gold are rising because investors anticipate Fed rate changes in October and December. Why is the price of gold rising? Global uncertainties like Trump's fresh round of tariffs on drugs may also prompt more investment in gold. In the near term, the prices may rise further. Internationally, gold jumped to a record high above $3,800 per ounce on Monday. The prices were supported by a weaker dollar and growing expectations that the Federal Reserve will cut interest rates further. Spot gold rose 1.5% to $3,814.91 per ounce by 0624 GMT. U.S. gold futures for December delivery gained 0.9% to $3,844, reported Reuters. Inflation in the US might lead the Federal Reserve to cut rates. It cut the rates by 0.25 percentage points. The markets believe that the rates will be cut further in October and December. Experts believe that the sentiment is bullish and more highs may be recorded over the next few days.

Gold and silver futures hit an all-time high. Internationally, gold jumped to a record high above $3,800 per ounce on Monday. Experts believe that the sentiment is bullish, and more highs may be recorded.

Gold and silver futures prices log record highs. Here's why

Trump Policies: Gold prices have hit a new record, climbing a new peak above three thousand six hundred dollars an ounce. That’s a gain of almost forty percent this year alone, making it gold’s best run in nearly five decades.


Trump Policies: Gold Prices Could Surge to $4,000, Say Analysts

Gold prices have hit an all-time high, as global investors rush toward safe-haven assets amid rising geopolitical tensions and expectations of a U.S. Federal Reserve rate cut. The precious metal's rally is being fueled by fears of global economic slowdown, inflation uncertainty, and persistent instability in key regions. With bullion shining brighter than ever, analysts believe gold could climb even higher if central banks ease monetary policy further. Here’s what’s driving this historic surge in gold — and what it means for the global markets.

Gold hits record high above $3,500 an ounce

Gold prices in the country is skyrocketing, the yellow metal caught pace in August and since then it has only been aiming for the sky. It has recorded the highest price in parts of the country, currently at INR Rs 106,310 per 10 grams. India is going to be celebrating one festival after another until the year's end, and gold is usually viewed as an auspicious buy. Each passing year, the gold buying behaviour remains; it is only the cost that changes, and this change burns a hole in the pockets.&nbsp;&nbsp;<h2>Gold prices skyrocketing</h2>&nbsp;“I have been waiting to buy some jewellery during the festive season. It is also a tradition our family has been following for decades. But looking at the surge, I wonder if it’s going to be feasible any more. A design I liked was priced at Rs 50,000, is now being sold at double the cost. It is unimaginable to even plan something with a market so volatile,” says Swapna Sorra, banking professional.&nbsp;Also read: <a href="https://www.wionews.com/photos/gold-rush-top-5-global-importers-of-gold-silverware-jewelry-and-precious-metals-1756715673192">Gold Rush: Top 5 global importers of gold, silverware, jewelry and precious metals</a>&nbsp;<h2>Price estimate by the end of 2025</h2>&nbsp;While gold prices are steadily rising, Chetan Bagrecha, Director, Nikita Jewellers, said, "Gold prices have been peaking for over six to eight months now, and that too without any correction. It has been showing a steep rise, and from we are predicting it will go up to INR 122,000 to 125,000 by year-end. And now the end of this month it touch INR 110,000.”&nbsp;“The wars around the globe and the US tariffs have heavily impacted the prices, and one may not see respite in the near future,” he added.&nbsp;The demand for silver is increasing, and with that, the prices will also surge much higher.&nbsp;&nbsp;<h2>Buying behaviour</h2>&nbsp;But with the current surge in gold prices, buying behaviour has not been impacted, says Bagrecha. “People are seeing a steady growth, and growth has traditionally been a source of investment. Also is easy to convert when in need. Looking at the market in the last six months, where gold prices have not reversed, people are also confident in investing.”&nbsp;&nbsp;

Gold prices in India have been rising and it is estimated to go up to INR Rs 125,000 by December. In the last six to eight months it has only shown a steady growth.

Gold prices in the country is skyrocketing, the yellow metal caught pace in August and since then it has only been aiming for the sky. It has recorded the highest price in parts of the country, currently at INR Rs 106,310 per 10 grams. India is going to be celebrating one festival after another until the year's end, and gold is usually viewed as an auspicious buy. Each passing year, the gold buying behaviour remains; it is only the cost that changes, and this change burns a hole in the pockets. Gold prices skyrocketing “I have been waiting to buy some jewellery during the festive season. It is also a tradition our family has been following for decades. But looking at the surge, I wonder if it’s going to be feasible any more. A design I liked was priced at Rs 50,000, is now being sold at double the cost. It is unimaginable to even plan something with a market so volatile,” says Swapna Sorra, banking professional. Also read: Gold Rush: Top 5 global importers of gold, silverware, jewelry and precious metals Price estimate by the end of 2025 While gold prices are steadily rising, Chetan Bagrecha, Director, Nikita Jewellers, said, "Gold prices have been peaking for over six to eight months now, and that too without any correction. It has been showing a steep rise, and from we are predicting it will go up to INR 122,000 to 125,000 by year-end. And now the end of this month it touch INR 110,000.” “The wars around the globe and the US tariffs have heavily impacted the prices, and one may not see respite in the near future,” he added. The demand for silver is increasing, and with that, the prices will also surge much higher. Buying behaviour But with the current surge in gold prices, buying behaviour has not been impacted, says Bagrecha. “People are seeing a steady growth, and growth has traditionally been a source of investment. Also is easy to convert when in need. Looking at the market in the last six months, where gold prices have not reversed, people are also confident in investing.”

Gold prices in India have been rising and it is estimated to go up to INR Rs 125,000 by December. In the last six to eight months it has only shown a steady growth.

Already at record high, gold price expected to hit INR 125,000 by year-end, says expert

Gold prices held steady on Monday after suffering their biggest weekly decline in months, as concerns grew that President Donald Trump’s tariff-driven inflation pressures in the US could delay the Federal Reserve’s rate-cutting cycle. According to Bloomberg, bullion traded around $3,340 an ounce in early Asian hours, down 0.1 per cent at 8:35 a.m. Singapore time. This follows a 1.8 per cent drop last week, the sharpest fall in three months, as signs of accelerating US wholesale inflation tempered expectations of near-term monetary easing.<h2>Tariff strains fuelling inflation</h2>Data released last week showed US wholesale inflation in July jumped at its fastest pace in three years, prompting traders to trim bets on a September Fed rate cut. Gold, which offers no yield, tends to lose appeal in a higher interest rate environment.&nbsp;Raphael Bostic, President of the Atlanta Federal Reserve, told Bloomberg after touring the southeastern US that “tariff strains are real” and that high borrowing costs are eroding corporate profits. Markets, however, still expect as many as two Fed cuts before year-end, though the timing remains uncertain.<h2>Geopolitical lens: Trump-Zelenskiy talks in focus</h2>Traders are also keeping a close watch on President Trump’s upcoming meeting with Ukrainian leader Volodymyr Zelenskiy. The talks are expected to define terms for a possible peace deal discussed during Trump’s meeting with Russian President Vladimir Putin in Alaska last week.&nbsp;As per Bloomberg, the outcome of these negotiations could sway gold sentiment, with a ceasefire potentially reducing haven demand, while prolonged conflict could spur more inflows into bullion.<h2>Gold consolidates near record highs</h2>Despite the recent pullback, gold has been consolidating just below its record high of $3,500 an ounce, reached in April. The metal remains up more than 25 per cent so far this year, buoyed by geopolitical risks, concerns over global growth, and central banks diversifying away from dollar-denominated assets.&nbsp;Silver and platinum were little changed on Monday, while palladium posted modest gains, Bloomberg reported. Meanwhile, the Bloomberg Dollar Spot Index was steady, offering little directional push for precious metals.&nbsp;With inflation fears intensifying and geopolitics still unsettled, gold’s trajectory may hinge on whether the Fed can balance market expectations with economic realities.&nbsp;(With inputs from the agencies)&nbsp;&nbsp;

Traders trimmed bets on September easing after wholesale prices surged, though markets still expect up to two Fed cuts by year end.

Gold prices held steady on Monday after suffering their biggest weekly decline in months, as concerns grew that President Donald Trump’s tariff-driven inflation pressures in the US could delay the Federal Reserve’s rate-cutting cycle. According to Bloomberg, bullion traded around $3,340 an ounce in early Asian hours, down 0.1 per cent at 8:35 a.m. Singapore time. This follows a 1.8 per cent drop last week, the sharpest fall in three months, as signs of accelerating US wholesale inflation tempered expectations of near-term monetary easing. Tariff strains fuelling inflation Data released last week showed US wholesale inflation in July jumped at its fastest pace in three years, prompting traders to trim bets on a September Fed rate cut. Gold, which offers no yield, tends to lose appeal in a higher interest rate environment. Raphael Bostic, President of the Atlanta Federal Reserve, told Bloomberg after touring the southeastern US that “tariff strains are real” and that high borrowing costs are eroding corporate profits. Markets, however, still expect as many as two Fed cuts before year-end, though the timing remains uncertain. Geopolitical lens: Trump-Zelenskiy talks in focus Traders are also keeping a close watch on President Trump’s upcoming meeting with Ukrainian leader Volodymyr Zelenskiy. The talks are expected to define terms for a possible peace deal discussed during Trump’s meeting with Russian President Vladimir Putin in Alaska last week. As per Bloomberg, the outcome of these negotiations could sway gold sentiment, with a ceasefire potentially reducing haven demand, while prolonged conflict could spur more inflows into bullion. Gold consolidates near record highs Despite the recent pullback, gold has been consolidating just below its record high of $3,500 an ounce, reached in April. The metal remains up more than 25 per cent so far this year, buoyed by geopolitical risks, concerns over global growth, and central banks diversifying away from dollar-denominated assets. Silver and platinum were little changed on Monday, while palladium posted modest gains, Bloomberg reported. Meanwhile, the Bloomberg Dollar Spot Index was steady, offering little directional push for precious metals. With inflation fears intensifying and geopolitics still unsettled, gold’s trajectory may hinge on whether the Fed can balance market expectations with economic realities. (With inputs from the agencies)

Gold steadied near $3,340 an ounce on Monday after its steepest weekly fall in three months, as Trump’s tariff-driven inflation risks clouded the outlook for US rate cuts.&nbsp;

Gold steadies after weekly drop as US inflation fears mount

Gold prices are heading for a weekly decline as hotter-than-expected US inflation data reduced market confidence in a September interest rate cut by the Federal Reserve. As per Bloomberg, spot gold held steady at $3,336.45 an ounce in Friday morning trade in Singapore, putting it on track for a 1.8 per cent loss this week. The metal fell 0.6 per cent in the previous session after data showed US wholesale inflation in July accelerated at its fastest pace in three years. The surprise reading lifted US Treasury yields and strengthened the dollar — moves that typically weigh on non-yielding bullion, which is priced in the greenback.Bloomberg data on swap market pricing shows traders now see around a 90 per cent chance of a Fed rate cut in September, compared with full certainty earlier this week. Gold usually benefits from lower interest rates, but the latest inflation surprise has tempered the outlook for rapid monetary easing.<h2>Year-to-date gains still strong</h2>Despite the weekly drop, bullion remains more than 25 per cent higher this year. Bloomberg notes that much of the rally came in the first four months of 2025, driven by heightened geopolitical and trade tensions that boosted safe-haven demand, along with robust central bank purchases.<h2>Tariff confusion adds to volatility</h2>Last week, uncertainty over whether gold bars would face US tariffs pushed the premium for New York futures over London spot prices sharply higher. President Donald Trump later said there would be no levy, helping narrow the gap. However, Bloomberg reports that formal clarification from authorities is still awaited.<h2>Mixed moves in other precious metals</h2>Silver was little changed on Friday, while platinum and palladium edged lower. The Bloomberg Dollar Spot Index was also steady, signalling muted currency market activity.&nbsp;With inflationary pressures persisting and geopolitical risks still elevated, traders will be watching the Fed’s September policy meeting closely for cues on whether gold can resume its upward run or face further profit-taking.&nbsp;(With inputs from the agencies)

Spot gold is down 1.8% this week, despite a 25% year-to-date increase. Ongoing tariff uncertainties and inflationary pressures contribute to market volatility.

Gold prices are heading for a weekly decline as hotter-than-expected US inflation data reduced market confidence in a September interest rate cut by the Federal Reserve. As per Bloomberg, spot gold held steady at $3,336.45 an ounce in Friday morning trade in Singapore, putting it on track for a 1.8 per cent loss this week. The metal fell 0.6 per cent in the previous session after data showed US wholesale inflation in July accelerated at its fastest pace in three years. The surprise reading lifted US Treasury yields and strengthened the dollar — moves that typically weigh on non-yielding bullion, which is priced in the greenback. Bloomberg data on swap market pricing shows traders now see around a 90 per cent chance of a Fed rate cut in September, compared with full certainty earlier this week. Gold usually benefits from lower interest rates, but the latest inflation surprise has tempered the outlook for rapid monetary easing. Year-to-date gains still strong Despite the weekly drop, bullion remains more than 25 per cent higher this year. Bloomberg notes that much of the rally came in the first four months of 2025, driven by heightened geopolitical and trade tensions that boosted safe-haven demand, along with robust central bank purchases. Tariff confusion adds to volatility Last week, uncertainty over whether gold bars would face US tariffs pushed the premium for New York futures over London spot prices sharply higher. President Donald Trump later said there would be no levy, helping narrow the gap. However, Bloomberg reports that formal clarification from authorities is still awaited. Mixed moves in other precious metals Silver was little changed on Friday, while platinum and palladium edged lower. The Bloomberg Dollar Spot Index was also steady, signalling muted currency market activity. With inflationary pressures persisting and geopolitical risks still elevated, traders will be watching the Fed’s September policy meeting closely for cues on whether gold can resume its upward run or face further profit-taking. (With inputs from the agencies)

Gold prices are set for a weekly decline, impacted by stronger US inflation data which diminished hopes for a September Fed interest rate cut.

Gold slips for weekly loss as US inflation dents Fed rate cut bets

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