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Informist, Thursday, Nov. 13, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold rose to an over three-week high on the Multi Commodity Exchange of India and the COMEX Thursday. In the domestic market, the futures contract of gold rose, tracking gains in contracts on the COMEX due to a weak dollar. Market sentiment was also lifted amid the reopening of the US government, which is expected to pave the way for resumption of economic data releases for cues on the US Federal Reserve's rate cuts.

 

At 1616 IST, the dollar index, which measures the strength of the greenback against a basket of six currencies, was down 0.2% at 99.27. A weaker dollar makes dollar-denominated commodities such as gold cheaper for those holding other currencies, aiding demand. 

 

At 1615 IST, the most-active December GOLD contract on the MCX was up 1% at INR 127,770 per 10 grams. The most-active December gold contract on the COMEX rose 0.7% to $4,241.6 per ounce.

 

In the US, the House of Representatives Wednesday took a procedural step towards ending the government shutdown by advancing a stopgap funding package aimed at restoring food assistance programmes, paying hundreds of thousands of federal workers, and reviving the hobbled air-traffic control system. The shutdown had suspended the release of key economic data, which is vital for the Federal Reserve to take any decision on the benchmark interest rates in the country.

 

"Markets bet that once data flows restart, a softer US economic picture could justify additional rate cuts, which support the non-yielding metal," Dow Jones quoted Soojin Kim from MUFG as saying. 

 

SILVER contracts rose on the MCX and hit a new high on COMEX. At 1616 IST, the most-active December silver contract on the MCX was up 1.7% to INR 164,761 per kg. The same-month contract on COMEX rose 1.4% at $54.21 per ounce, after hitting a high of $54.42 per ounce earlier in the day.

 

Silver prices hit a fresh all-time high due to the reopening of the US government. Silver prices were also supported by high demand amid tightening supplies. Strong demand from makers of solar panels and medical devices, as well as from investors worried about the US dollar and high stock values, have driven gains in silver, The Wall Street Journal reported. Additionally, the US Geological Survey updated its list of critical minerals, adding around 10 minerals and metals, including silver, Bloomberg reported. 

        

Outlook for the rest of the session:

--MCX gold seen at INR 125,500–INR 129,000 per 10 grams

--COMEX gold seen at $4,180.0–$4,280.0 an ounce

--MCX silver seen at INR 163,000-INR 167,000 per kg

--COMEX silver seen at $53.60-$54.80 an ounce

 

End

 

US$1 = INR 88.66

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

 

Edited by Subhojit Sarkar

 

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