Gold and silver prices have been on a downward trend for several days. Gold has fallen by nearly 28% from its all-time high, while silver has dropped by more than 40%. Tensions in the Middle East, rising inflation in the United States, and surging crude oil prices are directly impacting gold. Against this backdrop, the global market has finally shown signs of a rebound on the first day of the trading week.

**Uptick in the International Market**
Prices for gold and silver have risen in the international market—specifically on the COMEX exchange. Today, November 2, gold on the COMEX climbed by 0.24%, trading at $3,908.30 per ounce. Meanwhile, the price of silver on the COMEX rose by 1.52%, reaching $50.025 per ounce.

**Gold Becomes Costlier in the Domestic Market**
The domestic market has also seen an increase in gold and silver prices. Today, gold was trading at approximately ₹1.40 lakh per 10 grams. Silver also saw an upward trend, trading at around ₹1.82 lakh per kilogram.

**What are the prices on the MCX?**
On the Multi Commodity Exchange (MCX), the price of gold for December delivery rose by ₹500, trading at ₹1,39,200 per 10 grams. Silver saw a jump of ₹2,400, reaching a price of ₹1,81,456 per kilogram.

**How ​​much have the metals risen?**
As the markets opened, gold and silver prices experienced a notable surge—the first in quite some time. With the arrival of the week leading up to Diwali, a rally has returned to the precious metals market. Currently, 24-carat gold is trading at approximately ₹139,400 per 10 grams, while 22-carat gold is hovering around ₹127,800 per 10 grams. Meanwhile, 18-carat gold is trading at nearly ₹104,550 per 10 grams. In the bullion market, the price of silver was seen trading at around ₹182,250 per kilogram.

Gold prices rise ahead of mid-term elections
The mid-term elections in the United States are scheduled for tomorrow, Tuesday, November 3rd. In light of this, the prices of gold and silver have seen an uptick. Additionally, it is worth noting that the US market witnessed a massive sell-off on Friday, with reports indicating that some stocks fell by as much as 27–28%.

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