More Stories

Informist, Tuesday, Jul. 8, 2025

By Pallavi Singhal

NEW DELHI – Futures contracts of gold fell Tuesday on the Multi Commodity Exchange of India, tracking a fall in contracts on the COMEX amid diminishing odds for a rate cut by the Fed in July. Gold futures also traded lower as market participants awaited further clarity on President Donald Trump's trade policies, Kotak Securities said in a report. 

"Expectations that US President Donald Trump's tariffs would underpin US inflation in the coming months and force the Federal Reserve to keep interest rates steady seem to undermine the non-yielding yellow metal," FX Street said in a note. 

The president's recent threats of 25% levies on Japan and South Korea, alongside higher rates for a dozen other trading partners, including South Africa and Thailand, have introduced significant uncertainty. While new tariffs were imposed, Trump's decision to keep the door open for negotiations and delay the new rates until Aug. 1 provides a crucial three-week window for affected nations to secure agreements, Kotak Securities said. This ongoing trade friction has been a primary catalyst for gold's substantial rally this year, pushing the precious metal to a record high in April, as demand for safe-haven assets intensified, it added.

At 1838 IST, the most-active August GOLD contract on the COMEX was 0.2% lower at $3,337.8 per ounce. The most-active August gold contract on the MCX was 0.4% lower at INR 96,850 per 10 grams.

SILVER contracts fell on the MCX but were steady on COMEX. At 1841 IST, the most-active September silver contract on the MCX was down 0.4% at INR 107,944 per kg. The same-month contract on COMEX was steady at $36.905 per ounce.

Outlook for the rest of the session:

--MCX gold seen at INR 95,666–INR 98,272 per 10 grams

--COMEX gold seen at $3,264.5–$3,379.1 an ounce

--MCX silver seen at INR 106,430-INR 110,114 per kg

--COMEX silver seen at $35.77-$37.58 an ounce

End

Edited by Saji George Titus

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.