More Stories

Informist, Wednesday, Nov. 12, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold rose on the Multi Commodity Exchange of India and the COMEX on Wednesday as weak economic data from the US raised hopes of an interest rate cut by the US Federal Reserve in December. Gold prices were also supported by signs of an end to the US government shutdown, as investors await the US House of Representatives to vote on a deal to reopen the federal government, which could provide more clarity on US economic data.

 

At 1601 IST, the most-active December GOLD contract on the MCX was up 0.3% at INR 124,307 per 10 grams. The most-active December gold contract on the COMEX was up 0.4% at $4,131.4 per ounce.

 

On Tuesday, new private-sector data showed that US companies were cutting about 11,250 jobs per week through late October. This will reinforce the expectations for another interest rate cut at the December Federal Open Market Committee meeting. According to the CME's FedWatch tool, 63.2% of traders are now pricing in a 25-basis-point rate cut in December, while 36.8% expect rates to remain unchanged. 

 

Market participants are looking forward to the progress on the potential end of the US government shutdown. On Monday, the US Senate approved a bipartisan deal to reopen the federal government. The deal still needs approval in the House of Representatives, where Speaker Mike Johnson has said he expects the bill to be passed on Wednesday and sent to US President Donald Trump for his signature. 

 

"The imminent reopening of the government is expected to restore access to official economic data, providing clarity for future monetary policy decisions," Dow Jones quoted Soojin Kim from MUFG as saying.

 

SILVER contracts on the MCX and COMEX rose Wednesday, tracking gains in gold. At 1602 IST, the most-active December silver contract on the MCX was up 1.6% to INR 157,100 per kg. The same-month contract on COMEX was up 1.8% at $51.65 per ounce.

 

Outlook for the rest of the session:

--MCX gold seen at INR 123,000–INR 126,000 per 10 grams

--COMEX gold seen at $4,090.0–$4,180.0 an ounce

--MCX silver seen at INR 155,500-INR 159,000 per kg

--COMEX silver seen at $51.00-$52.00 an ounce

End

 

US$1 = INR 88.63

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

 

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 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

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