Indian equities have been in a prolonged phase of correction and consolidation since October 2024, extending till September 2025, following a combination of domestic and global headwinds. During the same period, gold and silver delivered stellar returns, buoyed by global uncertainty and a weaker rupee.

According to Sriram BKR, Senior Investment Strategist at Geojit Financial Services, while short-term movements may continue to fluctuate, long-term data provides a clearer picture of how these asset classes behave across market cycles. His analysis — spanning 30 years of data from 1995 to September 2025 — uses the Rolling Returns approach to capture the full spectrum of returns, including best and worst periods, free from point-to-point or recency bias. Advertisement

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