US-Venezuela Conflict: Gold, Silver Prices Soar in India; Check City Rates

• Gold and silver prices surged in India on January 05 due to the US-Venezuela conflict and the capture of Nicolás Maduro.
• 24-carat gold reached Rs 1,37,550 per 10 grams in Delhi; 22k gold was Rs 1,26,100.
• Silver spot price was Rs 2,47,000 per kg; MCX futures also saw significant gains.
• International spot market saw gold at $4,401 per ounce and silver at $75 per ounce.
• Gold prices in India are influenced by international rates, import duties, taxes, and exchange rate fluctuations.

Why It Matters: Geopolitical tensions between US-Venezuela drove a sharp rise in Indian gold and silver prices.