The surge in gold prices in 2025 ranks among the steepest since the 1970s, rivalling the bull runs of 1979–80, 2010–11, and 2020. However, unlike earlier cycles driven by Western crises, this rally is Asia-led, underpinned by reserve diversification and official-sector demand, data from a report showed on Thursday.

Gold’s dazzling rally this year has captivated global markets — a rare and spectacular ascent that has seen prices surge over 50 per cent year-to-date, breaching $4,000 on COMEX and touching Rs 1,20,000 domestically.

The precious metal has clocked over 35 new record highs this year, as investors embrace tangible assets amid global uncertainty. Silver too has mirrored gold’s brilliance, soaring over 60 per cent YTD across exchanges, Motilal Oswal Financial Services said in its report.

India has made it clear that the country’s import policy for oil and gas is guided entirely by the interests of the Indian consumers amid a volatile global energy market.

The statement was issued hours after US President Donald Trump said that Prime Minister Narendra Modi has assured him that India will reduce purchases of Russian crude oil.

“India is a significant importer of oil and gas. It has been our consistent priority to safeguard the interests of the Indian consumer in a volatile energy scenario. Our import policies are guided entirely by this objective. Ensuring stable energy prices and secured supplies have been the twin goals of our energy policy. This includes broad-basing our energy sourcing and diversifying as appropriate to meet market conditions,” according to an MEA statement.

After months of selling, foreign investors seem to be regaining confidence in Indian stock markets as the data from NSDL shows that between October 7 and October 14, Foreign Institutional Investors (FIIs) were net buyers in five of the last seven trading sessions, purchasing shares worth over Rs 3,000 crore in the secondary market.

Their buying in the primary market was even stronger, crossing Rs 7,600 crore, as per the data.

Provisional data from the NSE also indicates that FIIs continued their buying streak on October 15, adding another Rs 162 crore.

This renewed buying interest has come alongside a steady rise in key market indices.

Gold prices soared to a fresh record high on Thursday as investors turned to the safe-haven metal amid rising geopolitical tensions and economic uncertainty.

Expectations of US interest rate cuts and a weaker dollar also boosted demand for the yellow metal.

MCX Gold December futures surged by nearly Rs 1,200, or 1 per cent, to hit a new record of Rs 1,28,395 per 10 grams.

Similarly, MCX Silver December futures jumped over Rs 1,900, or more than 1 per cent, to reach a fresh high of Rs 1,64,150 per kg.

Equity markets opened higher on Thursday, supported by stock-specific action as companies continue to announce their Q2 results.

At the opening bell, the Sensex climbed 340 points, or 0.41 per cent, to trade at 82,945. Similarly, the Nifty rose 105 points, or 0.41 per cent, to 25,428.

"From a technical perspective, a sustained move above 25,450 could pave the way for a rally toward 25,500. On the downside, immediate support lies at 25,200 and 25,150, which may serve as potential entry points for long trades," market experts said.

Confidence among chief executive officers (CEOs) in India in their own companies’ growth prospects has climbed to 83 per cent, up from 68 per cent in 2024 — a significant leap that outpaces CEOs globally from 76 per cent in 2024 to 79 per cent in 2025, a report said on Wednesday.

Despite a decline in global economic confidence -- from 80 per cent in 2024 to 63 per cent in 2025 -- Indian CEOs remain focused on innovation, resilience, and long-term growth strategies. Rather than retreating, they are prioritising strategic investments in technology and talent to drive transformation.

"CEOs in India are demonstrating renewed confidence in their organisations’ growth prospects, reflecting strong resilience and strategic clarity," KPMG India said in its report.

The Indian rupee registered its sharpest single-day rise in nearly four months on Wednesday, rebounding from near record lows amid likely intervention by the Reserve Bank of India (RBI) and renewed optimism over the India-US trade negotiations.

The domestic currency climbed as much as 0.9 per cent to 87.9987 against the US dollar during the session — its biggest intraday jump since June 24 — before trimming some gains. On Tuesday, the rupee had slipped to 88.8025 per dollar, close to its all-time low.

Traders attributed the rebound to heavy dollar sales by the RBI in both onshore and offshore markets. Additionally, the central bank acted to stabilise the currency, which has remained largely range-bound in recent weeks as the RBI sought to defend the 89-per-dollar level.

The recent GST rate reforms reduced the tax rate to 5 per cent on key agricultural and artisanal products of Nagaland, directly impacting affordability, competitiveness, and market access for local producers and entrepreneurs, the government said on Wednesday.

The state’s coffee growers, handloom weavers, bamboo artisans, and hospitality operators stand to gain from more competitive pricing. Overall, these reforms will support and strengthen Nagaland’s cultural and ecological heritage, an official statement said.

Handloom shawls and textiles, including GI-tagged Chakhesang shawls from Kohima, Phek, and Dimapur, will see improved market competitiveness, and the GST reforms will enhance weavers’ incomes, and support women artisans.

Gold prices surged to a new record high on Wednesday, crossing Rs 1.27 lakh per 10 grams on the Multi-Commodity Exchange (MCX).

The rise came as global gold prices rallied on renewed US-China trade tensions and growing expectations of further interest rate cuts by the US Federal Reserve.

At the opening, MCX gold futures were up 0.52 per cent at Rs 1,26,915 per 10 grams, compared to the previous close of Rs 1,26,256.

Soon after, prices touched a fresh all-time high of Rs 1,27,500 per 10 grams. Silver prices also gained, opening 0.18 per cent higher at Rs 1,59,800 per kg and hitting an intra-day high of Rs 1,61,418.

Indian stock markets opened on a positive note on Wednesday, taking cues from the upbeat global sentiment.

The Sensex climbed 243 points, or 0.30 per cent, to trade at 82,273, while the Nifty rose 79 points, or 0.31 per cent, to start the day at 25,225.

Commenting on the Nifty’s technical outlook, experts said that though the 20-day SMA stepped in yesterday, to limit the extent of the drop, we prefer to give more weightage to the bearish engulfing pattern, thus acknowledging the prevailing bearish bias.

“Meanwhile, we remain equally prepared to switch sides, if Nifty manages to push beyond 25230. However, we will wait for a break beyond 25330 to play directional upsides,” they added..

Digital non-banking financial companies (NBFCs) sanctioned 3 crore personal loans totalling Rs 43,019 crore in Q1 FY26, representing 80 per cent of personal loan volumes, a report said on Tuesday.

Further, the personal loans sanctioned by digital NBFCs accounted for 20 per cent of the sanction value, according to the data compiled by Fintech Association for Consumer Empowerment (FACE), a self-regulatory organisation in the fintech sector.

Their growing portfolio of Rs 1.2 lakh crore (June 2025) reflects growth underpinned by improving credit quality, the report said.

The report, based on data from credit bureau Crif High Mark, signalled that digital NBFCs are now central to India’s personal loan market, significantly contributing to the expansion of formal credit and deepening inclusion.

India's annual rate of inflation based on the Wholesale Price Index (WPI) eased to 0.13 per cent in September from 0.52 per cent in August , according to figures released by the Ministry of Commerce and Industry on Tuesday.

The prices of food items declined by (-)1.38 per cent during the month due to higher crop yields and adequate buffer stocks of wheat and rice. The prices of fuels such as petrol, diesel and natural gas also continued to decline during September with fuel inflation staying in the negative zone at -2.58 per cent, the figures showed.

The month over month change in WPI for the month of September stood at (-) 0.19 per cent as compared to August.

The Reserve Bank of India (RBI) may cut policy rates by 25 basis points in December, bringing the repo rate down to 5.25 per cent, if the 50 per cent import tariff remains in place until the end of the year, a new report said on Tuesday.

The data compiled by HSBC also suggested that the government could announce a fiscal package for exporters along with fresh economic reforms to support growth.

The report highlighted that inflation has fallen to its lowest level in years, giving the RBI more room to ease monetary policy.

Consumer Price Index (CPI) inflation for September stood at 1.5 per cent year-on-year (YoY) -- the lowest since June 2017 -- as food prices slipped into deflation.

India’s inflationary print is likely to come around 0.45 per cent next month and that makes a strong case for decisive actions, according to a new State Bank of India (SBI) report, which stated that being the collective voice of myriad sections of markets and people at large, “we believe the RBI MPC too would listen to the tunes that are changing in these interesting times”.

For the record, FY27 inflation print are decisively lower at 3.7 per cent for now, said Dr Soumya Kanti Ghosh, Group Chief Economic Advisor, SBI.

“RBI, with its primary mandate of inflation targeting, runs the risk of missing the bull’s eye if it remains fixated on market cacophony even when the deceleration in inflation has been way too evident and long term actuals, in general, seem quite detached from the figures released by the Central Bank in its own forecasters’ assessment,” Ghosh argued.

Indian stock markets opened higher on Tuesday as investors looked past global uncertainties caused by the ongoing trade tensions between the US and China, while also tracking quarterly earnings from Indian companies.

The Sensex began the day at 82,562, gaining 235 points or 0.29 per cent. Similarly, the Nifty opened at 25,283, up 55 points or 0.22 per cent.

Among the top performers on the Sensex were HCL Tech, Tech Mahindra, Tata Steel, Infosys, Bharat Electronics, Bajaj Finserv, Ultratech Cement, ICICI Bank, Kotak Mahindra Bank, and Larsen & Toubro, which rose up to 1.3 per cent.

Indian stock markets ended lower on Monday, snapping a two-day winning streak, as weak global cues weighed on investor sentiment.

At the close of trade, the Sensex fell 173.77 points, or 0.21 per cent, to 82,327.05, while the Nifty declined 58 points, or 0.23 per cent, to 25,227.35.

“From a technical perspective, as long as Nifty sustains above its critical 25,000 support, the trend remains positive and a move toward 25,500 resistance appears plausible,” market experts said.

The Goods and Services Tax (GST) portal has been updated to enable online filing of annual returns using Form GSTR-9 for the financial year 2024–25.

Taxpayers can now also file the reconciliation statement using Form GSTR-9C. The deadline for filing the GSTR-9 annual return is December 31, 2025.

Since this year’s filing window is shorter than usual, taxpayers are advised to complete the process well in advance.

Form GSTR-9 is required to be filed by all registered taxpayers under the regular scheme, including SEZ units and SEZ developers.

Shares of BLS International Services plunged sharply on Monday after the Government barred the company from participating in future tenders of the Ministry of External Affairs (MEA) and Indian Missions abroad for the next two years.

The stock crashed as much as 17.85 per cent to hit a 52-week low of Rs 277 apiece on the Bombay Stock Exchange (BSE).

The MEA had issued the directive on October 9, restricting BLS International from bidding for new tenders.

However, the company clarified that the order will not affect its ongoing contracts or financial performance.

Gold’s dream run continues in 2025, with experts predicting that prices could climb as high as Rs 1.3 lakh per 10 grams this Dhanteras and even reach Rs 1.5 lakh by early 2026.

The surge is being driven by global economic uncertainty, strong central bank buying, and expectations of interest rate cuts that are keeping investor demand for the yellow metal strong.

“Strong central bank and ETF buying, even at record prices, along with declining trust in fiat currencies amid upcoming rate cuts, will keep gold prices elevated,” market experts said.

On the Multi Commodity Exchange (MCX), gold prices have already touched Rs 1,22,284 per 10 grams for the December contract this week. Analysts said the rally is being driven by global economic uncertainty, geopolitical tensions, and rising hopes of interest rate cuts by the US Federal Reserve.

Indian stock markets opened sharply lower on Monday, tracking weakness across Asian markets after US President Donald Trump warned of “stricter” tariffs on China.

The cautious global sentiment weighed on domestic equities, leading to broad-based selling across sectors.

At the opening bell, the Sensex opened at 82,278, down 223 points or 0.27 per cent, while the Nifty began trading at 25,180, slipping 105 points or 0.42 per cent in early deals.

Commenting on the Nifty outlook, experts said that “We will begin the week limiting our upside objective to 25460, as maintained last week. Volatility is expected to rise as the week progresses.”

As Diwali, the festival of lights, is just around the corner, potters and diya makers across the country are celebrating a surge in demand following Prime Minister Narendra Modi’s call to adopt Swadeshi products.

PM Modi’s recent appeal to prioritise Indian-made goods has led to a significant rise in orders for traditional clay lamps (diyas), bringing hope and renewed enthusiasm among potters. They believe this initiative will not only revive their traditional craft but also provide a major economic boost during the festive season.

Potters say this Diwali feels different — brighter, in more ways than one.

“This Diwali will be a good one for us. We thank the Prime Minister for encouraging people to support Swadeshi,” said one potter.

As New Delhi strengthens its relations with the Taliban establishment in Kabul, FM Amir Khan Muttaqi who is one a week-long visit to the capital, is likely to push for better trade cooperation between the two countries.

According to sources aware of the matter, more than two dozen Afghan traders are likely to visit the capital on Monday and will meet the FM Muttaqi.

“These traders are likely to visit New Delhi on Monday. They will meet the FM Muttaqi, and it is being seen as a major push from the Kabul side to expand trade relations, in the domain of dry fruits, pharmaceuticals, public infrastructure and many others,” an official said.

At the restrictive press conference in the Afghan Embassy premises in New Delhi on Friday, Muttaqi backed trade through the Chabahar port route and called for opening the India-Pakistan Attari-Wagah border.

The Central Electricity Authority (CEA) on Saturday highlighted visionary initiatives for India’s power sector by unveiling the roadmap for the development of 100 GW nuclear capacity by 2047 -- in alignment with its long-term energy and climate objectives.

CEA, the apex technical organisation under the Ministry of Power, celebrated its 52nd Foundation Day here, in the presence of Pankaj Agarwal, Secretary, Power Ministry.

Agarwal hailed the outstanding contribution of CEA in the coordinated development of the Indian power sector.

He highlighted CEA’s instrumental role in policy formulation, power system planning, and promoting technological innovation to ensure a reliable, affordable, and sustainable electricity supply for the nation.

India’s silver exchange‑traded funds (ETFs) are trading at steep premiums over international benchmarks amidst surging festive demand and constrained physical global supply, a report said on Saturday.

Investment inflows into silver products hit record levels globally in H1‑2025, adding about 95 million ounces – exceeding the total inflows of the entire previous year, the report from Axis Mutual Fund said.

Further, it pushed total ETF holdings to roughly 1.13 billion ounces (worth over $40 billion) by mid-2025, Axis Mutual Fund said.

Global mining output has grown only modestly and is expected to peak by 2026, even as industrial and investment demand climbs, driven by solar photovoltaics, electric vehicles, electronics, 5G infrastructure, and semiconductors.

Indian equities ended the week on a positive note amid buying in banking, IT, and pharma stocks (in the last two sessions).

Investors' sentiment remained firm toward banking stocks during the period, buoyed by the RBI monetary committee decision to keep the repo rate unchanged at 5.5 per cent, and it improved further after the government invited private sector professionals to lead the State Bank of India.

Meanwhile, pharma stocks picked up momentum at the end of the week after the US administration said that they do not plan to impose tariffs on generic drugs and signalled cutting biotech ties with flagged foreign firms, especially from China.

India’s booming primary market continues to attract global attention, with Citigroup Inc. predicting that Indian initial public offerings (IPOs) could raise as much as $20 billion over the next 12 months.

The projection comes amid strong investor demand and a record pipeline of upcoming listings across technology, healthcare, and consumer sectors.

According to Citigroup, India could be among the world’s most active equity capital markets (ECM) alongside Hong Kong over the next year.

In a push for the ‘Vocal for Local’ initiative, the government has underscored the pivotal role of the retail trade sector in the Indian economy, as traders hail the recent GST 2.0 reforms.

During the seventh meeting of the National Traders’ Welfare Board (NTWB) here, Sunil J. Singhi, NTWB Chairman, appreciated the recently implemented GST reforms, which came into effect on September 22.

He highlighted that the nationwide traders-led campaign, celebrated as the ‘GST Bachat Utsav’, reflects the gratitude of the trading community towards Prime Minister Narendra Modi, for the transformative GST reforms that have generated substantial benefits and savings for both consumers and traders.

Gold and silver prices rose on the Multi Commodity Exchange (MCX) on Friday, supported by a weaker US dollar and strong global cues.

Steady demand in the spot market also helped keep precious metals firm.

On the MCX, gold December futures were trading 0.38 per cent higher at Rs 1,20,951 per 10 grams, while silver December futures were almost flat during the same time.

The US dollar index slipped over 0.20 per cent during the session, making gold cheaper for buyers holding other currencies.

Since gold is priced in dollars, any weakness in the US currency tends to increase its demand globally.

Securitisation volumes in India reached approximately Rs 73,000 crore in the second quarter of current fiscal (Q2 FY26), a report showed on Friday.

This reflects a healthy increase from the roughly Rs. 70,000 crores recorded in the corresponding period of the previous year (Q2 FY2025), according to credit rating agency ICRA.

The composition of this growth, however, signifies a notable shift in market dynamics.

The previous year’s uptick was primarily driven by significant activity from a single large bank. In a shift for the current quarter, the increase is attributed to a more diversified base, stemming from a few large corporate transactions, the report mentioned.

Indian stock markets opened on a flat note but soon moved higher on Friday, supported by positive global sentiment.

The easing of geopolitical tensions in the Middle East and signs of a possible trade deal between the US and India boosted investor confidence.

After the opening bell, the Sensex gained 148 points, or 0.18 per cent, to trade at 82,320 levels. The Nifty also rose 40 points, or 0.16 per cent, to 25,221 levels.

Gold and silver prices fell in early trade on Thursday, on the Multi Commodity Exchange (MCX), as investors booked profits after both metals hit record highs in the previous session.

At around 9:15 am, MCX Gold December futures were down 0.34 per cent at Rs 1,22,789 per 10 grams, while MCX Silver December futures slipped 0.75 per cent to Rs 1,48,738 per kg.

In Wednesday’s session, gold futures for December delivery had touched an all-time high of Rs 1,23,450 per 10 grams, and silver had hit a fresh peak of Rs 1,50,282 per kg.

Gold prices have seen a sharp rally this year, with domestic spot prices jumping more than 50 per cent so far.

Indian stock markets opened flat but with a slight positive tone on Thursday, taking cues from upbeat global trends.

At the opening bell, the Sensex was up 17 points, or 0.02 per cent, at 81,791, while the Nifty gained 17 points, or 0.07 per cent, to trade at 25,063.

“From a technical standpoint for Nifty, a sustained move above 25,150 could open the door for an upside toward 25,200–25,250,” analysts said.

“On the downside, immediate support is placed around 24,950–24,900, which may serve as potential accumulation zones for long positions,” they added.

After a volatile trading session on Wednesday, Indian stock markets ended lower as early gains were wiped out due to cautious investor sentiment and mixed global cues.

The Sensex slipped 153 points, or 0.19 per cent, to close at 81,773.66, while the Nifty fell 62 points, or 0.25 per cent, to settle at 25,046.15.

“The Nifty opened on a firm note but failed to sustain momentum beyond its immediate resistance zone near 25,200, triggering broad-based profit booking and selling pressure across key sectors such as banking, auto, FMCG, and realty,” market experts said.

As the Q2 earnings session begin, India's largest IT firms are likely to record a modest quarter-on-quarter revenue growth of up to 2.1 per cent in the July-September period, a report said on Wednesday.

Increased macro concerns are expected to limit incremental tech spending, but demand trends are stable, and increasing deal conversions as well as currency tailwinds may support growth, the report from broking firm Equirus Securities said.

Analysts forecast that consolidated constant-currency US dollar sales for the top six large-cap companies will increase by 0 to 2.1 per cent quarter-on-quarter.

While governmental debts are rising globally, India's general government debt will moderate to 77 per cent of GDP by FY31 and further to 71 per cent by FY35, from the current level of 81 per cent, a report said on Wednesday.

The report from the ratings firm CareEdge Ratings attributed this decline to Centre's fiscal consolidation and sustained GDP growth of approximately 6.5 per cent.

However, the firm maintained that the sticky aggregate state debt amid the distribution of freebies by some states remains a monitorable going forward.