Gold Surges in Delhi as Dollar Weakness Lifts Bullion Demand

Gold prices in Delhi rose to Rs 1.54 lakh per 10 grams on Friday, marking its fourth consecutive day of gains. The increase was due to a sharp rally in overseas markets, driven by a weaker US dollar and softer crude oil prices.

The precious metal's price jumped by Rs 200 from Thursday's closing level of Rs 1.53,800 per 10 grams, according to local traders. This surge has put gold on track for its strongest weekly performance since January.

Gaurav Garg, Head of Research at Lemonn Markets Desk, attributed the rally to a weak dollar, easing inflation expectations, and continued demand for bullion ahead of the US non-farm payrolls report. He noted that silver prices also advanced due to improving sentiment among investors.