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Informist, Tuesday, Oct. 14, 2025

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of gold and silver on the Multi Commodity Exchange of India and the COMEX rose to new record highs Tuesday on firm safe-haven demand amid rising tensions between the US and China. Market sentiment was also lifted due to strong flows into global gold exchange-traded funds and concerns about the supply of silver in London.

 

However, prices of both precious metals pared the day's gains on the COMEX and were trading in the red. At 1823 IST, the most active December GOLD contract on the MCX was 0.5% higher at INR 125,206 per 10 grams after touching a record high of INR 126,930 per 10 grams. The most active December gold contract on COMEX was 0.2% lower at $4,125.4 per ounce, after hitting an all-time high of $4,190.9 per ounce earlier in the day.

 

At 1832 IST, the most active December silver contract on the domestic exchange was 0.9% higher at INR 156,115 per kg, after surging to a fresh all-time high of INR 162,700 per kg earlier in the day. The same-month contract on COMEX hit an all-time high of $52.49 during the day and was trading 1.8% lower at $49.54 per ounce.

 

China Tuesday announced sanctions against five US-linked subsidiaries of South Korean shipbuilder Hanwha Ocean, Reuters reported. China's commerce ministry said the US was "threatening to intimidate" with the prospect of new tariffs on Chinese exports, "which is not the right way to get along", according to The Guardian.

 

On Friday, US President Donald Trump threatened an additional 100% tariff on China, ending months of truce in a trade war between the world's two largest economies after Beijing expanded export controls on rare earths earlier in the week. However, Trump scaled back his threat during the weekend. China Sunday threatened to retaliate if Trump failed to back down on his threat and defended its curbs on exports of rare earth elements and equipment as a response to the US aggression.

 

Moreover, expectations of more rate cuts by the US Federal Reserve this year and strong safe-haven flows into gold and silver amid the prolonged US government shutdown also supported prices. "Gold and silver are two of the best-performing commodities this year, with prices up by more than 55% and 80% YTD (year to date), respectively, supported by the Fed's policy easing, the central bank's purchases and geopolitical tensions, which have fuelled demand for safe-haven assets," analysts at ING said in a report.  

 

Outlook for the rest of the session:

--MCX Dec gold seen at INR 124,000–INR 126,800 per 10 grams

--COMEX Dec gold seen at $4,100.0-$4,200.0 an ounce

--MCX Dec silver seen at INR 153,500-INR 160,500 per kg

--COMEX Dec silver seen at $48.00-$51.00 an ounce

End

 

US$1 = INR 88.80

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

 

Edited by Saji George Titus

 

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