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Informist, Monday, Nov. 17, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold fell on the Multi Commodity Exchange of India on Monday, tracking fall in contracts on the COMEX due to a stronger dollar. Gold prices were also down due to fading expectations of a rate cut by the US Federal Reserve in December. 

 

At 1549 IST, the dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.1% at 99.39. A strong dollar makes commodities priced in the currency, such as gold, less appealing for holders of other currencies, denting demand.

 

At 1549 IST, the most-active December GOLD contract on the MCX was down 0.2% at INR 123,336 per 10 grams. The most-active December gold contract on the COMEX was down 0.1% at $4,089.2 per ounce.

 

"Gold dropped as investors waited for a series of US economic data this week that could shed more light on the Federal Reserve's interest rate path," an analyst at Kedia Advisory said. Minutes of meeting of the Federal Open Market Committee, US unemployment claims data is due Thursday, and the US flash manufacturing purchasing managers' index data is due Friday. Multiple Federal Reserve officials have expressed inhibition about a further rate cut, citing concerns about inflation and signs of relative stability in the labour market after two interest rate cuts this year. According to the CME's FedWatch tool, 43.6% of traders are now pricing in a 25-basis-point rate cut in December, down from 62.4% a week ago.

 

The US Bureau of Labor Statistics Friday said it would release September jobs data Thursday. The longest-ever US government shutdown, which ended Thursday, has left a large gap in economic data ahead of next month's policy meeting. National Economic Council Director Kevin Hassett had said the September jobs report would be published without the unemployment rate, a day after the White House said the jobs report and consumer price index for October were unlikely to be released. "...investors fear that longest government shutdown, which ended recently, has created gaps in economic data and it will take time to gather and publish it," ICICI Direct said in a report.

 

SILVER contracts fell on the MCX and rose on the COMEX. At 1558 IST, the most-active December silver contract on the MCX was down 0.1% at INR 155,886 per kg. The same-month contract on COMEX was up 0.5% at $50.91 per ounce.

 

Outlook for the rest of the session:

--MCX gold seen at INR 121,500–INR 124,500 per 10 grams

--COMEX gold seen at $4,030.0–$4,130.0 an ounce

--MCX silver seen at INR 153,500-INR 157,500 per kg

--COMEX silver seen at $50.20-$51.20 an ounce

End

 

US$1 = INR 88.63

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

 

Edited by Nishant Maher

 

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