More Stories

Informist, Monday, Nov. 10, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold rose to a two-week high on the Multi Commodity Exchange of India and the COMEX on Monday. In the domestic market, the futures contract of gold rose tracking gains in contracts on the COMEX due to a weaker dollar. Prices of the precious metal were also supported by growing expectations of another US Federal Reserve rate cut in December due to weak US consumer sentiment data.

 

At 1603 IST, the dollar index, which measures the strength of the greenback against a basket of six major currencies, was down 0.2% at 99.56. A weaker dollar makes dollar-denominated commodities such as gold cheaper for those holding other currencies, aiding demand.

 

At 1604 IST, the most-active December GOLD contract on the MCX was up 1.7% at INR 123,125 per 10 grams. The most-active December gold contract on the COMEX rose 2% to $4,089.5 per ounce.

 

The dollar index fell after US consumer sentiment fell to its lowest in more than three years and just off its worst level ever. The consumer sentiment index dropped to 50.3 this month, the lowest level since June 2022, against a reading of 53.6 in October. Economists polled by Reuters had forecast the index to dip to 53.2. A weak data typically increases the likelihood of an interest rate cut by the US Federal Reserve.

 

According to the CME's FedWatch tool, 65% of traders are now pricing in a 25-basis-point rate cut in December, up from 64% a week ago.

 

However, gains in gold were capped due to signs of the end of the US government shutdown, which could undermine demand for safe-haven assets. On Sunday, the US senate approved a bipartisan deal aimed at reopening the federal government and ending the historic 40-day shutdown, Reuters reported.

 

SILVER contracts rose on the MCX and the COMEX Monday, tracking gains in gold. At 1605 IST, the most-active December silver contract on the MCX rose 3.1% to INR 152,315 per kg. The same-month contract on COMEX was up 3.6% at $49.89 per ounce.

 

Outlook for the rest of the session:

--MCX gold seen at INR 122,000–INR 124,500 per 10 grams

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

--MCX silver seen at INR 151,000-INR 154,000 per kg

--COMEX silver seen at $49.20-$50.40 an ounce

End

 

US$1 = INR 88.70

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

 

Edited by Nishant Maher

 

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 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

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