Gold glitters ahead of festive season, but experts see steady demand: How to invest now

Gold prices in India have recently touched all-time highs, and as the festive and wedding season draws near, industry experts expect demand to stay resilient despite elevated rates.

Rising global uncertainty and traditional buying patterns are underpinning the rally.

Darshan Desai, CEO of Aspect Bullion & Refinery, said, “Periods of pause or small corrections are natural, but broader fundamentals such as safe-haven demand and global economic trends continue to support prices.”

Highlighting international drivers, Aksha Kamboj, Vice President of the Indian Bullion & Jewellers Association (IBJA) and Executive Chairperson of Aspect Global Ventures, said, “Gold recently hit all-time highs due to global economic uncertainty, strong investor appetite, and expectations of looser US monetary policy. Timing the market’s bottom is difficult, so a staggered purchase strategy is safer than waiting for a sharp decline that may not come.”

Mohit Kamboj, Former President of IBJA and CEO of Aspect Global Venture, noted that while markets may consolidate in the near term, “upbeat festival demand and international safe-haven flows should prevent a negative bias. Steep corrections seem unlikely, though periodic dips are possible.”

Saumen Bhaumik, MD of CaratLane, emphasised the cultural dimension of gold in India.

“Even if prices pull back briefly, demand rebounds quickly. Gold is more than an investment—it’s an emotion tied to tradition and celebration,” he said.

Mangesh Chauhan, MD and CFO at Skygold & Diamonds, suggested buyers balance investment goals with affordability by opting for lower caratage jewellery or 24KT gold for investment appeal.

Gold outlook

Gold currently trades around $3,650 per ounce. Projections from global financial institutions indicate a wide spectrum for future prices.

Bank of America expects $3,650 an ounce, Citigroup $4,000 an ounce, Goldman Sachs $5,000 an ounce, and Swiss Asia projects $8,000–$12,000 an ounce by 2032.

These figures highlight the potential for further gains over the medium and long term, even amid short-term volatility.

Buying strategy for retail investors

Experts recommend staggered purchases over lump-sum buying.

Desai suggested spreading acquisitions over the next few weeks to average costs while fulfilling festive requirements.

Aksha Kamboj added that this approach allows buyers to participate in potential upside without taking on excessive short-term risk.