Gold prices rise to ₹1.4 lakh/10 gm on strong global trends amid US-Venezuela tensions; silver soars

Gold prices (24K, 99.9% purity) rose by ₹960 to ₹1,40,400 per 10 gram in Delhi on Monday, January 5, on the back of strong global trends amid heightened geopolitical tensions due to the US actions against Venezuela. The yellow metal had closed at ₹1,39,440 per 10 gram on Friday. 

Meanwhile, silver prices extended their rally, rising by ₹2,600 to ₹2,44,000 per kg from Friday’s closing price of ₹2,41,400 per kg. 

According to traders, both precious metals, gold and silver, were boosted by safe-haven demand today, as geopolitical risks have intensified. Both precious metals are safe-haven assets, meaning they tend to rise during uncertain situations. 

Common triggers for gold’s rise in 2025 include market volatility, rising global tensions, trade war concerns, falling currencies and increased central bank gold buying. Silver typically rises in tandem with gold; however, a unique factor pushing silver is its rising industrial demand. 

Silver’s heightened demand in crucial sectors like EV and solar, coupled with supply shortages in global markets, led to a stellar rally. The white metal rose by as much as 166% in 2025, outperforming gold’s 74% returns. 

International markets

In overseas markets, spot gold rose by $87.74 (2.03%) to $4,418.24 per ounce, while spot silver surged by $2.35 (3.24%) to $75.02 per ounce. 

"Spot gold is trading around the $4,420 level, buoyed by the geopolitical risk escalation as the US captured and removed the Venezuelan President Nicolas Maduro," a PTI report quoted Praveen Singh, Head of Commodities, Mirae Asset ShareKhan, as saying.

Silver’s rise

Silver rose by 166.4% in 2025, surging from ₹89,700 per kg on December 31, 2024 to ₹2,39,000 per kg on December 31, 2025. In the international markets, silver rose from $28.97 per ounce on December 31, 2024 to $71.67 per ounce at the end of 2025.  

Along with strong industrial demand, China’s silver export restrictions that came into effect from January 1 have also been boosting the white metal. Silver was also declared a key mineral by the US in November 2025 due to its extensive use in electrical circuits, batteries, solar cells, and anti-bacterial medical tools. 

Silver's ascent has been structurally supported by governmental measures across the global supply chain, the PTI report quoted Renisha Chainani, Head - Research at Augmont, as saying. 

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 added that silver prices rallied from around $45 per ounce in October to a peak of $82.7 in December 2025, and added that the uptrend could extend further towards $88.60, $99 and $107 in the coming few months of 2026.