Could gold hit Rs 1.42 lakh per 10g this festive season?

The ideal range for purchasing gold can be considered between Rs 1,14,000 and Rs 1,18,000 per 10 grams, this gold price range could be a good chance to buy and build your holdings as the prices are continue to rise. According to the Religare Broking's Diwali special report 2025, gold in India has surged about 67 per cent since January, reaching a record high of Rs 1,31,920 per 10 grams on Friday.

Gold prices today

As per MCX, gold is trading at Rs 1,31,780 with a 1.48 per cent up today. Whereas, yesterday the yellow metal has surged to its all time high of Rs 1,32,294, showing a strong upward momentum.

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In past 10 days, On October 7, yellow metal was running at Rs 1,26,216 and till now the prices have been surged by Rs 11,044 per 10 gram.

What’s driving gold prices high?

The Religare Broking said "rally has been driven by a mix of global and domestic factors, including geopolitical tensions, a weakening dollar, strong central bank buying, and expectations of easier monetary policy across major economies."

It also warned that the yellow metal has entered to a overbought territory, this could lead to profit booking or sideways movement in the near term, suggesting investors should adopt a staggered buying approach, gradually accumulating gold during price corrections rather than buying aggressively at current highs.

Technically, gold continues to show strength as it trades above key moving averages such as the 20-day and 50-day EMAs, indicating sustained investor confidence, report says.

Gold Exchange Traded Funds also played a significant role as it attracted $64 billion in ETF inflows so far in 2025, and India contributed $10 billion in September alone.

Gold price predictions

As per Religare report, gold will move towards Rs 1,35,000 to Rs 1,42,000 per 10 grams over the short to medium term if prices rebound from the recommended buying zone.

The yellow metal has seen a remarkable rise since August, climbing from around Rs 98,500 per 10 grams to over Rs 1.26 lakh by October. It is expected that yellow metal will follow this surge amid festive season.

However, it could be weak signal and lead to a deeper correction, if gold prices falls below Rs 1,05,000 per 10 grams.

Gold prices in international market

In international market, the yellow metal is trading around $4,346.69 with a rise of 1.16 per cent.

Gold's global rally has been equally impressive, with prices crossing the $4,000 per ounce mark for the first time. Analysts believe that continued demand from central banks, investors, and festive buyers, along with supply constraints, will keep prices firm through 2025 and beyond.