Gold prices experienced a significant surge in 2025, achieving their best annual gain since 1979, driven by factors such as US interest rate cuts, central bank purchases, and geopolitical tensions. Despite a slight decline on the last day of the year and profit-taking, gold reached record highs on the MCX. Analysts anticipate continued strength in 2026, with prices potentially stabilizing between USD 4,500-5,000, supported by ongoing inflation, currency weakness, and geopolitical uncertainties.