Gold has emerged as a strong performer in 2025, soaring over 59% in 2025 so far and reaching all-time highs. Its rally is supported by central bank buying, Federal Reserve rate cuts, the global trend of de-dollarization, and increasing holdings in gold-backed exchange-traded funds. The yellow metal is on track for its best year since 1979, reflecting strong investor demand for safe-haven assets.
Domestic gold prices have surged 59.03%in 2025, rising from ₹77,120 per 10 gm to ₹1,22,650 per 10 gm. If you missed this remarkable rally in gold, there are several companies benefiting from this uptrend. Here are some stocks and funds that may continue to gain from the ongoing gold rally.
Indian gold mining, jewelry retailer, gold financiers, and related stocks are also seeing increased interest from investors seeking exposure to this rally.
Key Indian companies include Deccan Gold Mines, Titan Company, MMTC, Manappuram Finance, Muthoot Finance, and Goldiam International Ltd. These stocks benefit from rising global gold prices and potential margin expansion.
Deccan Gold Mines engages in gold mining and exploration. Its projects include the Dharwar Shimoga Belt, Hutti-Maski Belt, Mangalur Schist Belt, and Ramagiri Schist Belt. DGML is also diversifying into critical minerals with its Bhalukona-Jamnidih Nickel, Chromium, and PGE project in Chhattisgarh, expected to start by 2026. Deccan Gold Mines share price has surged over 27% in 2025, while in the last 6 months it has jumped over 41%.
Muthoot Finance, India’s largest gold loan NBFC, provides loans against used household gold jewellery through its extensive branch and digital network. Despite RBI’s new gold lending rules, the company plans to raise growth guidance from 15% to above 20%, with net interest margin (NIM) guidance maintained at 5.5-6%. The stock price of the company has surged over 50% on a year-to-date basis.
Manappuram Finance, a leading NBFC in gold loans, benefits from rising gold prices, which increase customers’ borrowing capacity and support loan growth. The company faced a setback when the RBI banned its microfinance subsidiary, Asirvad. The ban was lifted in January 2025, and the gold loan portfolio continues to grow. The share price of the company has jumped by over 52% on a year-to-date basis.
Titan remains India’s largest branded jewellery maker, with brands like Tanishq, Mia, Zoya, and CaratLane driving revenues. While FY25 saw 21.4% overall revenue growth and the company crossed ₹50,000 crore in revenues, high gold prices have pressured the jewellery segment, leading to consumer preference for lightweight and lower-carat pieces. Titan Company's share price has gained nearly 10% on a year-to-date basis.
MMTC, a government-backed leader in gold bullion import and trading, has seen higher sales volumes in coins and bars, boosting revenue. Its 26% stake in MMTC-PAMP India Pvt. Ltd., India’s only LBMA-accredited gold and silver refinery, contributed ₹10,821.97 lakhs in profit for FY24-25, with a dividend of ₹18.80 per share. The stock price of MMTC has surged over 42% in the last 6 months.
Goldiam International Ltd is engaged in the business of manufacturing and exporting gold and diamond jewelry to global retailers. Recent large orders (₹100 crore in exports, plus ₹40 crore in August) signal robust demand driven partly by rising gold prices and global consumer sentiment tied to the gold rally.
As mentioned earlier, Gold mining equities have outperformed many tech-related sectors. Investors in India can gain direct exposure to gold via mutual funds such as:
With sustained central bank demand and macroeconomic uncertainties, gold and gold-related equities offer both a hedge and potential for strong returns in 2025.
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