New Delhi, Jan 5 (PTI) Gold prices climbed Rs 960 to Rs 1,40,400 per 10 grams in the national capital on Monday, tracking strong global trends amid heightened geopolitical tensions, according to the All
India Sarafa Association.
The precious yellow metal of 99.9 per cent purity had closed at Rs 1,39,440 per 10 grams on Friday.
Silver prices also extended their sharp rally, climbing by Rs 2,600 to Rs 2,44,000 per kilogram (inclusive of all taxes) from Friday’s close of Rs 2,41,400 per kg.
Traders said both gold and silver were driven by safe-haven demand as geopolitical risks have intensified.
“Gold and silver advanced on Monday, buoyed by geopolitical risks that continue to underpin safe-haven demand and act as a tailwind for bullion, particularly following heightened US actions against Venezuela,” Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities, said.
He noted that US President Donald Trump’s confrontational rhetoric on Colombia and Mexico has also raised concerns over potential regional instability in Latin America, further increasing demand for traditional safe-haven assets.
In the international market, spot gold rose by USD 87.74, or 2.03 per cent, to USD 4,418.24 per ounce.
“Spot gold is trading around the USD 4,420 level, buoyed by the geopolitical risk escalation as the US captured and removed the Venezuelan President Nicolas Maduro,” Praveen Singh, Head of Commodities, Mirae Asset ShareKhan, said.
Spot silver also increased by USD 2.35, or 3.24 per cent, to USD 75.02 per ounce.
“Silver prices are trading higher due to strong industrial and investment demand, ongoing supply concerns, and global geopolitical tensions,” Satish Dondapati, VP & Fund Manager, Kotak Mutual Fund, said.
Dondapati added that recent price swings in the white metal were mainly caused by higher margin requirements announced by the CME group and China’s silver export restrictions that came into effect from January 1.
Renisha Chainani, Head – Research at Augmont, said silver’s ascent has been structurally supported by governmental measures across the global supply chain.
In November, the US designated silver as a key mineral due to its extensive use in electrical circuits, batteries, solar cells, and anti-bacterial medical tools.
Washington’s move to include silver on its critical minerals list has enhanced its strategic relevance, encouraging long-term investment and policy-backed demand, she said.
Chainani noted that silver prices rallied from around USD 45 per ounce in October to a peak of USD 82.7 in December 2025, and added that the uptrend could extend further towards USD 88.60, USD 99 and USD 107 in the coming few months of 2026. PTI HG HG BAL BAL
