Gold prices edged higher on Tuesday, hovering at a one-week peak and closing in on record levels, with safe-haven demand being fed by geopolitical tensions over the US capture of Venezuela’s President and expectations of US rate cuts.

Spot gold was up 0.3 per cent at $4,461.09 per ounce after rising nearly 3 per cent in the last session.

Spot silver, which hit an all-time high of $83.62 on December 29, gained 4.8 per cent to $80.18 per ounce.

Back home, rising for the fourth straight day, gold on Tuesday jumped by ₹1,100 to ₹1,41,500 per 10 grams, tracking firm global trends.

Silver prices also witnessed robust buying in the bullion market.

The white metal continued its rally for the third consecutive day by surging ₹7,000 to ₹2,51,000 per kilogram from the previous close of ₹2,44,000 per kg.

In Calcutta, pure gold and hallmark gold rose by ₹1150 to ₹137300 and ₹131150, respectively.

Silver bar and portion rose by ₹7,450 to ₹2,45,800 and ₹245900, respectively.