Gold surges Rs 1,100

New Delhi: Rising for the fourth straight day, the gold price jumped by Rs 1,100 to Rs 1,41,500 per 10 grams, tracking firm global trends, according to the All India Sarafa Association.Gold prices in the national capital increased by Rs 1,100 to Rs 1,41,500 per 10 grams, the All India Sarafa Association said.

On Monday, the precious metal of 99.9 per cent purity closed at Rs 1,40,400 per 10 grams. The white metal continued its rally for the third consecutive day by surging Rs 7,000 to Rs 2,51,000 per kilogram from the previous close of Rs 2,44,000 per kg.

In the international market, spot gold went up by $11.45, or 0.26 per cent, to $4,460.49 per ounce. Spot silver also strengthened in the overseas trade, rising by $1.75, or 2.28 per cent, to $78.36 per ounce.

“Gold extended its gains on Tuesday, supported by a softer US dollar and dovish comments from Federal Reserve officials, which reinforced market expectations for potential interest-rate cuts in the coming months,” Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. Silver prices also witnessed robust buying in the bullion market.