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Informist, Wednesday, Jul. 16, 2025

By Pallavi Singhal

NEW DELHI – Futures contracts of gold continued to rise on the Multi Commodity Exchange of India and the COMEX for a second day on Wednesday amid heightened safe-haven appeal for the precious metal after US President Donald Trump announced tariffs on key trading partners such as the European Union and Mexico. 

Gold prices also attracted dip-buyers, following a weaker close on Tuesday due to high consumer prices in the US, analysts at FX Street said. The US CPI data released on Tuesday showed that consumer prices rose 2.7% year-on-year in June, faster than the 2.4% increase in May but in line with expectations. The Federal Reserve closely monitors the data. Gold tends to perform well in a low-interest-rate environment, making it more attractive compared to yield-bearing assets like bonds.

However, persistent trade-related uncertainties and a softer risk tone benefited the safe-haven commodity, according to the report by FX Street. Trump's tariffs, along with bets that the Federal Reserve will keep interest rates higher for an extended period, temper investors' appetite for riskier assets, it said.

Investors are awaiting further cues from the release of the US Producer Price Index, due later Wednesday. Market participants are also waiting for speeches by US Federal Open Market Committee members later in the day for cues.

At 1820 IST, the most-active August GOLD contract on COMEX was up 0.2% at $3,343.4 per ounce. The most-active August gold contract on the MCX was up 0.1% at INR 97,310 per 10 grams. 

SILVER contracts were up on the MCX and COMEX, tracking the rise in prices of gold and other industrial metals. At 1822 IST, the most-active September silver contract on the MCX was up 0.2% at INR 111,778 per kilogram. The same-month contract on COMEX was up 0.2% at $38.2 per ounce.  End

Edited by Saji George Titus

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