As of November 22, 2024, gold prices have seen a notable increase due to escalating geopolitical tensions, particularly surrounding the Russia-Ukraine conflict. The price of 24-carat gold in India reached Rs 76,970 per 10 grams, reflecting a rise of 3.67% over the past week. Analysts attribute this surge to heightened safe-haven demand as investors seek stability amidst global uncertainties. On international markets, gold rose by $18 on Comex, reaching $2,670 per ounce.

Market experts suggest that while gold is experiencing upward momentum, it faces significant resistance levels around $2,675–$2,690 per ounce. Key support levels are identified at $2,600–$2,610. The volatility in gold prices is expected to persist in the short term due to ongoing geopolitical developments and their potential impact on investor sentiment. With inflationary pressures and economic uncertainties looming large, many investors are likely to continue viewing gold as a safe asset.

Silver prices have also been affected by these trends, with current rates hovering around Rs 90,190 per kilogram in India. The silver market has seen fluctuations similar to gold's as investors react to broader economic signals and geopolitical risks. As both metals remain under pressure from external factors, their performance will be closely monitored by traders and investors alike.