New Delhi- Gold prices in Delhi continued their upward trend for the fourth consecutive day, surging by Rs 1,100 to reach Rs 1,41,500 per 10 grams, in line with strong global market performance, as reported by the All India Sarafa Association.

Yesterday, the price of 99.9% pure gold closed at Rs 1,40,400 per 10 grams.

According to the All India Sarafa Association, gold prices in the national capital rose by Rs 1,100 to Rs 1,41,500 per 10 grams.

Analyst Saumil Gandhi from HDFC Securities noted, “Gold prices continued to climb on Tuesday, benefiting from a weakening US dollar and dovish statements from Federal Reserve officials, reinforcing market expectations of potential interest rate cuts in the near future.”

Silver prices also experienced significant buying activity in the bullion market, with the white metal marking a third consecutive day of gains by jumping Rs 7,000 to Rs 2,51,000 per kilogram (inclusive of all taxes) from the previous closing price of Rs 2,44,000 per kg.

On the international front, spot gold rose by USD 11.45, or 0.26%, to USD 4,460.49 per ounce.

Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, explained, “Spot gold is currently trading at around USD 4,460 per ounce, driven by escalating geopolitical risks following the US capture and removal of Venezuelan leader Nicolas Maduro.”

Meanwhile, US President Donald Trump has issued threats of further actions if Caracas continues to resist US efforts to open its oil sector and combat drug trafficking, while also considering measures against Colombia and Mexico for illegal drug flows.

In addition, spot silver saw an increase in overseas trading, rising by USD 1.75, or 2.28%, to USD 78.36 per ounce.

Renisha Chainani, Head of Research at Augmont, highlighted, “Bullion prices are nearing all-time highs in global markets and could reach new peaks if geopolitical tensions escalate or if incoming US data supports expectations of more aggressive monetary policy easing by the Federal Reserve.”