Gold prices stood at Rs 76,140 as of 7:00 a.m., according to the India Bullion Association, marking a slight recovery of Rs 720 from the previous day's decline. November has seen significant volatility in gold prices, with a sharp drop following the festive season, followed by a rebound driven by geopolitical conflicts.

The price chart for gold has been fluctuating throughout November. Initially, demand during the festive season led to a rally, pushing prices to Rs 81,500. However, the market soon saw a downturn, with prices dipping to Rs 74,390, reflecting record lows. This drop was partly due to reduced demand as investors turned to equities over gold. Prices rebounded when geopolitical tensions, such as the Russia-Ukraine conflict, caused a surge in demand for gold as a safe-haven asset.

The global gold price stood at $2,626 according to the World Gold Council, with a significant drop to $2,610 earlier this week due to reduced demand from de-escalating conflicts and a stronger US dollar. These global trends have directly influenced domestic prices, creating volatility in the Indian market.

As for silver, its price stood at Rs 88,100, with futures trading at Rs 87,649 according to the MCX. Silver prices have mirrored gold's volatility, influenced by global events and market sentiment.