Gold rises Rs 960, silver advances Rs 2,600

New Delhi: Gold prices climbed Rs 960 to Rs 1,40,400 per 10 grams in the national capital, 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 from Rs 2,41,400 per kg. Traders said both gold and silver were driven by safe-haven demand as geopolitical risks have intensified. In the international market, spot gold rose by $87.74, or 2.03 per cent, to $4,418.24 per ounce.

Spot silver also increased by $2.35, or 3.24 per cent, to $75.02 per ounce. “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.