Gold Price Closer To Rs 1 Lakh Mark: Should You Buy, Hold, or Sell? Motilal Oswal Shares Strategy

Gold price in India broke all records on Thursday, April 17, as a strong safe-haven rally amid geopolitical concerns, stagflation fears, and stock market volatility fuelled its prices.
MCX gold price touched an all-time high mark of Rs 95,799 per 10 gram. The bullion shattered another record globally as the international COMEX price of gold crossed the $3,300 levels. Amid trade tensions and geopolitical uncertainty, gold prices have gained nearly 25% year to date (YTD) till now.

Gold's Marathon

Gold price has been rallying over the past few years, however, since the beginning of 2025, there has been an astounding surge in gold prices, due to US tariff war and tensions of trade conflict escalation with China. The price of gold has increased nearly 25% since the beginning of 2025.

Tough Competition From Silver

As gold is rising like never before, silver's performance is also matching its pace. In just four months of 2025, silver gained nearly 15% year to date in Comex. The strong rally in silver and gold prices has made the precious metals two of the top five items in India with highest inflation in March, 2025. According to the recently released India's retail inflation data, gold witnessed a 34.09% of price rally, whereas silver price rallied nearly 31.5% in one month.

What's Driving The Rally?

Donald Trump's tariff announcements and uncertainty about their implementation after 90-day pause has kept the investors on edge. Uncertainty about Trump tariffs announcement and US-China trade conflict are one of the key reasons behind gold pice rally. Additionaly, the US Federal Reserve's policy decisions, geo-political tensions, investment demand are likely to have significant impact on market dynamics and investor sentiment.

"In an environment dominated by policy uncertainty, inflationary pressures, and volatile geopolitics, gold continues to be a beacon of stability," noted Navneet Damani, Grp Sr. Vice President, Head Commodity & Currency Research, Motilal Oswal Financial Services on Thursday.

Fear of Global Slowdown

As the United States continues to impose tariffs on China, raising fears of trade conflict, the global economic outlook remains uncertain. In April, multiple global brokerages including JP Morgan, Goldman Sachs and S&P Global, have warned that if Trump administration continues its disruptive policies, then the US economy can slip into recession leading to a global economic slowdown.

Gold Nears Rs 1 Lakh: Should You Buy, Sell or Hold?

As gold prices have increased phenomenally over the past four months, diverse opinions are coming about the further trajectory of the bullion. Motilal Oswal has reiterated its positive outlook on gold and has maintained a 'Buy on Dip' strategy for the yellow metal.
"As central banks bolster their reserves and investors seek safety, we believe gold will remain a favoured asset. Barring any significant resolution in global trade tensions, we maintain a 'buy on dips' view from a medium to long-term perspective," said Navneet Damani.

For Gold, Sky is The Limit!

There is a possibility of some profit booking in bonds and gold, leading to pause in gold price rally if there is a positive outcome of US tariffs negotiations, mentioned Motilal Oswal in its report adding that the gold price will rise in the long term.
"Given the broader fundamentals, we continue to maintain a buy on dips scenario for bullion from a medium to long term perspective. Technically, from medium to long term perspective: Important support is near ₹ 91,000 while, resistance is near ₹99,000. Similalry, on COMEX, $3100 and $3400 are the levels to watch for on COMEX," according to Motilal Oswal's report.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.