The break-in, on Edwin Road, Hyde Park, happened just before 12am on Sunday, when two men entered the home while a couple were inside.
One of the men repeatedly punched the woman, 59, in the head, before striking her with a hammer and pushing her husband to the floor when he tried to intervene.
As the woman tried to call police, he threatened to kill her and smashed her phone.
The robber demanded money from the couple, and tried to steal gold bangles from the victim's wrist.
He then called the second man, who was searching rooms upstairs, before the pair fled empty-handed.
The woman suffered heavy swelling and bruising to both eyes after the assault, as well as marks to her hands and wrists, and was taken to hospital.
Her husband, 85, is not thought to have been injured during the robbery.
Detective Constable Adam Newton, of Leeds District Crime Team, said: "This was a really terrifying experience for this couple to be attacked in their home like this.
"We are carrying out extensive enquiries in an effort to identify the people responsible and would like to hear from anyone who saw the men in the area or who has any information that could assist the investigation.
"The couple reported someone calling at their door at about 10pm on the night, asking if they had ordered a pizza.
"They didn't open the door but saw two male figures who then went away. Again, we would like to hear from anyone who saw two men acting suspiciously in the area around this time."
The first suspect is described as white, 5ft 7ins tall and of medium build.
Police said the second is described as 5ft 10ins tall and is thought to be black.
Both were wearing dark clothing, masks and gloves.
Anyone with any information is asked to contact DC 2914 Newton at Elland Road, via 101 quoting crime number 13160720420 or call the independent charity Crimestoppers anonymously on 0800 555 111.