Gold Hits Four-Day High in Delhi as Weaker Dollar Boosts Demand

Gold prices in Delhi rose by Rs 200 to reach Rs 1.54 lakh per 10 grams on Friday, marking its fourth consecutive gain. The increase was driven by a weaker US dollar and softer crude oil prices, which boosted demand for the precious metal.

The price of gold, which is 99.9% pure, had closed at Rs 1,53,800 per 10 grams on Thursday. With this latest rise, it has reached an all-time high in the current week, with market analysts attributing the rally to a weak dollar and easing inflation expectations.

Gaurav Garg, Head of Research at Lemonn Markets Desk, said that gold is heading for its strongest weekly performance since January. He attributed the surge to a weak dollar and continued demand for bullion ahead of the US non-farm payrolls report, which could influence the Federal Reserve's next policy decision.

Silver prices also rose on Friday, although they remained unchanged at Rs 2,34,800 per kilogram. However, market analysts say that silver is still on course to record its strongest weekly performance since January, supported by softer crude oil prices and a weak US dollar.