Gold prices in Delhi surged by ₹200, marking a four-session winning streak, driven by a softer US dollar and easing inflation concerns, with silver holding steady near its weekly highs amid global demand.
Gold prices in Delhi rose by ₹200 to ₹1,54,000 per 10 grams on Friday, extending a four-session winning streak as weaker US dollar trends and softer crude prices lifted demand for the metal. Silver was unchanged at ₹2,34,800 per kilogram, even after a sharp move in the previous session, according to local traders.
Dealers said 99.9% pure gold, inclusive of taxes, closed at ₹1,53,800 per 10 grams on Thursday before edging higher again. In overseas trade, spot gold firmed to about $4,325 an ounce and silver climbed more than 4% to roughly $64 an ounce, reflecting a broader rebound in precious metals. Gaurav Garg of Lemon Markets Desk said the latest advance put gold on course for its strongest weekly performance since January, helped by a softer dollar, easing inflation expectations and steady bullion buying ahead of the US non-farm payrolls report.
Market watchers said the rally has been supported by the view that US interest-rate cuts may still be on the table, while the dollar has recently lost some ground after a period of strength. In November, prices had been volatile: Delhi gold jumped sharply on one session and then eased on another as global cues, US economic data and shifts in the dollar index changed sentiment. That wider pattern suggests investors continue to treat bullion as a hedge against uncertainty, even when prices briefly cool.
Silver has been similarly choppy. It has recently swung from record territory to renewed strength, with analysts pointing to improving investor sentiment and safe-haven demand. Kaynat Chainwala of Kotak Securities said both gold and silver were trading near their strongest weekly levels since January, underscoring how quickly momentum has returned to the precious metals market.
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