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Informist, Friday, Oct. 24, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold fell on the Multi Commodity Exchange of India and the COMEX on Friday as investors booked profits after the recent rally, analysts said. Easing trade tensions between the US and China and a firm dollar also weighed on gold. 

 

At 1635 IST, the most-active December GOLD contract on the MCX was down 2.1% at INR 121,546 per 10 grams. The most-active December gold contract on COMEX was down 1.8% at $4,069.0 per ounce.

 

Gold prices also fell because of a firm dollar. At 1636 IST, the dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.1% at 99.03. A stronger dollar makes dollar-denominated commodities such as gold expensive for those holding other currencies, thereby denting demand.

 

Prices were also weighed down by easing trade worries between the US and China. White House Press Secretary Karoline Leavitt said US President Donald Trump would meet Chinese President Xi Jinping on Thursday. "I think we're going to come out very well, and everyone's going to be very happy," Trump said of the meeting.

 

However, in the long term, there will be an upward direction in gold and silver due to expectation of additional rate cuts by the US Federal Reserve this year and also due to geopolitical tensions between Russia and Ukraine, Manoj Jain, director at Prithvi Finmart, said. Market participants now await the US consumer price index data, due later in the day, which was delayed due to the ongoing US government shutdown. The data may give more cues on rate cuts by US Federal Open Market Committee.

 

SILVER contracts also fell on the MCX and COMEX due to profit booking and easing trade tensions between the US and China. At 1644 IST, the most-active December silver contract on the MCX was down 2.0% at INR 145,581 per kilogram. The same-month contract on COMEX was down 2.4% at $47.51 per ounce.

 

Outlook for the rest of the session:

--MCX gold seen at INR 121,000–INR 123,000 per 10 grams

--COMEX gold seen at $4,040.0–$4,130.0 an ounce

--MCX silver seen at INR 144,000-INR 147,000 per kg

--COMEX silver seen at $47.20-$48.30 an ounce

End

 

US$1 = INR 87.84

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

 

Edited by Ashish Shirke

 

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