Demand for precious metals to stay elevated during Diwali

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

“We believe that while gold may not replicate its stellar YTD 2025 performance, its upward trajectory is far from over. The rise has entered a phase of structural endurance rather than speculative exuberance,” the report from MP Financial Advisory Services said.“Thanks to industrial demand, silver has the required merits to cross over the $50 mark this time,” the financial consultancy said.