2025 saw remarkable performances by precious metals, with gold yielding almost 65% returns and silver surpassing with gains exceeding 140%. Nainesh Pachchigar, Gujarat President of the India Bullion and Jewellers Association (IBJA), anticipates that this positive trend is likely to persist in 2026. He mentioned that current international gold prices near $4,300 per ounce could potentially escalate to $5,000 per ounce, indicating an upside of over 16% from the current levels.
Pachchigar also expressed optimism about silver, projecting prices to reach around $85 per ounce in the near future, up from the current level of about $70 per ounce. This forecast suggests a potential additional increase of nearly 20% in 2026. The expert highlighted the growing demand for lab-grown diamonds globally, especially due to their more affordable pricing compared to natural diamonds.
While lab-grown diamonds are currently witnessing significant demand, Pachchigar believes that the appeal for natural diamonds might see a resurgence after three to four years, although it is expected to remain subdued in the short term. Market analysts attribute the strong performance of gold and silver in 2025 to increased global uncertainty, concerns related to US tariffs, and escalating geopolitical tensions among major economies.
Nuvama Professional Clients Group also foresees a bullish trend for both gold and silver in the upcoming period, with intermittent dips and consolidation phases.
