India Bullion
Prices rise on prospects of Fed rate cut
This story was originally published at 19:35 IST on 25 June 2025
Register to read our real-time news.Informist, Wednesday, Jun. 25, 2025
By Pallavi Singhal
NEW DELHI – Futures contracts of gold were trading higher on the Multi Commodity Exchange of India, tracking a rise in contracts on COMEX, amid the possibility of a rate cut by the US Federal Reserve, bolstering the appeal of the non-interest-yielding precious metal. An unexpected decline in US consumer confidence in June, likely on tariff anxieties, hints at a potential rate cut by the Fed, Kotak Securities said in a note. While Fed Chair Jerome Powell reiterated a cautious approach, he did not rule out a July cut, it added.
Gold futures are also up with market uncertainty beginning to reassert itself. "Safe-haven demand is still being supported by both geopolitical and trade-related risks," Dow Jones quoted XS.com's Samer Hasn as having said. Despite the optimism around the ceasefire between Iran and Israel, the possibility of renewed hostilities remains, as the US air strikes only appear to have delayed Iran's nuclear programme by a few months, according to a leaked US intelligence report, the Dow Jones report added.
At 1755 IST, the most-active August GOLD contract on COMEX was up 0.2% at $3,334 per ounce. The most-active August gold contract on the MCX was up 0.4% at INR 97,393 per 10 grams.
SILVER contracts were up on the MCX and COMEX tracking the rise in gold and industrial metals. At 1758 IST, the most-active July silver contract on the MCX was up 0.1% at INR 105,044 per kg. The same-month contract on COMEX was up 0.1% at $35.80 per ounce.
Outlook for the rest of the session:
--MCX gold seen at INR 95,428–INR 99,058 per 10 grams
--COMEX gold seen at $3,261.5–$3,388.1 an ounce
--MCX silver seen at INR 102,368–INR 107,322 per kg
--COMEX silver seen at $34.78–$36.71 an ounce
End
US$1 = INR 86.08
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Rajeev Pai
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