Colin Shah, MD of Kama Jewelry, believes global uncertainty will keep gold on a strong upward trend. He said gold continues to behave like a safe-haven asset as geopolitical risks remain elevated across regions.

Shah explained, “Gold has been volatile and will continue to be volatile. With everything being the way it is, gold is the safest haven, and looks like it’s on its way to $5,000 for sure, maybe it’s in the next 12 months, 15 months, but it’s on this northwards journey.”

With prices staying elevated, jewellery volumes in India have softened. Shah noted, “Volumes were significantly down during Diwali… the consumer is holding back on the number of grams they’re wanting to buy.” However, the value of sales remains stable because prices are up 35–40%.

He added that a “greater chunk”

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