Gold and silver prices are expected to remain at elevated levels amid persistent global uncertainties, unless a durable peace is achieved and trade tensions ease, the Economic Survey 2025–26 said on Thursday.

The Survey noted that both gold and silver hit lifetime highs in 2025, driven by heightened global uncertainty and strong safe-haven demand.

It added that the rally was supported by a weakening US dollar, expectations of persistently negative real interest rates, and rising concerns over geopolitical and financial tail risks.