More Stories

Informist, Friday, Jun. 27, 2025

By Ashutosh Pati

NEW DELHI – Futures contracts of gold fell to a four-week low on the Multi Commodity Exchange of India and the COMEX Friday, as siging of trade deal between the US and China, and holding up of the Israel-Iran ceasefire lowered the safe-haven demand for the precious metal.

At 1640 IST, the most-active August GOLD contract on the COMEX was down 1.5% at $3,299.6 per ounce. The most-active August gold contract on the MCX was also 1.5% lower at INR 95,670 per 10 grams. Prices fell to a four-week low of $3,291.5 per ounce on the COMEX and INR 95,613 per 10 grams on the MCX earlier in the day.

US President Donald Trump Thursday said that China and the US signed a trade deal, two weeks after saying they had reached an understanding in London about how to implement a truce in the countries' dispute, Financial Times reported. Following Trump's announcement, China confirmed the details of the deal have been finalised, according to media reports. Moreover, a White House spokesperson said Trump might extend the tariff pause deadline, further lifting market sentiment. 

"Meanwhile, investors continue to assess the Fed's interest rate outlook as Trump may announce his Fed Chair nominee as early as September or October, potentially favouring a candidate advocating for looser monetary conditions," Kotak Securities said in a report.

Market participants are waiting for the US Institute for Supply Management's manufacturing purchasing managers index data, due Tuesday.

SILVER contracts fell on the MCX and COMEX, tracking losses in gold and industrial metals. At 1658 IST, the most-active July silver contract on the MCX was down 1.8% at INR 104,870 per kilogram. The same-month contract on COMEX was 2% lower at $36.20 per ounce.

Outlook for the rest of the session:

--MCX gold seen at INR 93,932–INR 97,548 per 10 grams

--COMEX gold seen at $3,221.4–$3,348.7 an ounce

--MCX silver seen at INR 101,892-INR 107,286 per kg

--COMEX silver seen at $34.87-$36.97 an ounce

End

US$1 = INR 85.47

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Subhojit Sarkar

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.