Comex gold, gold price, silver price, comex gold news, silver: Gold prices are climbing as geopolitical tensions rise, particularly due to Russia’s missile strikes on Ukraine and the International Criminal Court’s arrest warrant for Israel’s Netanyahu over alleged Gaza war crimes. The Gold December futures closed at $2,674.90 per troy ounce, up 0.88%, while silver December futures dipped slightly, closing at $30.945 per troy ounce, down 0.19%.
In domestic markets, gold December futures settled at Rs76,693 per 10 grams, up 0.87%, while silver December futures slipped 0.18% to Rs89,925 per kilogram. Despite a mixed close, the session remained highly volatile.
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Gold’s upward momentum is driven by a surge in safe-haven demand amidst Russia-Ukraine escalations. However, a decline in U.S. jobless claims to 213,000, lower than the expected 220,000, limited gains in precious metals. The U.S. dollar index also strengthened, hitting a two-year high at 107.
Meanwhile, Bitcoin reached a new milestone, surpassing $98,000 per coin, adding pressure on precious metals. Silver continues to face resistance around $31.20 per troy ounce amid global economic concerns and a strong dollar.
Manoj Kumar Jain anticipates continued volatility in gold and silver due to dollar index fluctuations and geopolitical uncertainties. Gold is expected to find support at $2,614 and silver at $30.20 per troy ounce on a weekly basis. For today, gold has support at $2658-$2644, with resistance at $2688-$2700, while silver’s support is at $30.70-$30.35, with resistance at $31.20-$31.50 per troy ounce. On the MCX, gold’s support is at Rs76,400-Rs76,140, and resistance is at Rs76,920-Rs77,200; silver’s support is at Rs89,350-Rs88,600, with resistance at Rs90,550-Rs91,200. Jain advises booking profits in long gold and silver positions and awaiting corrective dips for new entry points.
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Disclaimer:
The information provided in this article is for informational purposes only and reflects the views of industry experts. Before making any investment decisions, it is recommended that you consult a financial advisor. The team at Gold Price Today does not engage in personal buying, selling, or trading of gold or silver on exchanges. We are not responsible for any gains or losses incurred based on the information presented here.
