Gold has rallied sharply since last Dhanteras, with prices rising from around ₹78,840 per 10 grams ($2,769/oz) on October 29, 2024, to approximately ₹1.28 lakh ($4,254/oz) ahead of the upcoming festive season — a gain of around 63% in rupee terms and 53% in dollar terms.

According to estimates shared by Ventura Securities, gold has been supported by multiple macroeconomic factors, including expectations of US Federal Reserve rate cuts, a weakening dollar, continued central bank buying, and geopolitical tensions such as renewed trade frictions between the US and China.

Ventura notes that gold has logged eight consecutive weekly gains, with investors showing strong buying interest even during minor price corrections. Exchange-traded fund inflows and central bank accumulation have further a

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