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Informist, Wednesday, Nov. 19, 2025

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold rose on the Multi Commodity Exchange of India and the COMEX on Wednesday due to safe-haven demand as investors became more cautious and moved toward safer assets, boosting demand for gold, analysts said. Gold prices also rose ahead of the release of minutes of the US Federal Open Market Committee's last policy meeting, which will help gauge the central bank's interest rate trajectory.

 

At 1545 IST, the most-active December GOLD contract on the MCX was up 1.2% at INR 124,082 per 10 grams. The most-active December gold contract on the COMEX was up 1.2% at $4,115.4 per ounce.

 

Global equity markets have turned sharply negative this week, with the S&P 500 on a four-day losing streak amid concerns about the valuations of artificial intelligence companies. "Equity markets were in the red across the globe amid jitters over lofty valuations," Dow Jones quoted ANZ Research analysts as saying. "The subsequent risk-off mood saw some buying of haven assets such as gold," the ANZ Research analysts said.  

 

Market participants now await the minutes from the Fed's last policy meeting, due later in the day, as well as the September non-farm payroll report, due on Thursday after being delayed by the recent US government shutdown. Economists polled by Reuters expect the non-farm payroll report to show that employers added 50,000 jobs in September.

 

Meanwhile, on Tuesday, data showed that the number of Americans receiving unemployment benefits stood at a two-month high in mid-October, with continued claims for jobless benefits rising to 1.9 million in the week ended Oct. 18. A labor department spokesperson said "a technical issue caused the early posting of partial data," adding "this is being corrected, and the complete series will be available by close of business on Nov. 20," Reuters reported.

 

Additionally, "US President Donald Trump's administration has started interviews for the next Fed Chair, fuelling bets that Trump may replace (the current chair) with someone who would be dovish and push for more rate cuts," ICICI Direct said in a report.  

 

SILVER contracts rose on the MCX and on the COMEX. At 1553 IST, the most-active December silver contract on the MCX was up 2.5% at INR 158,528 per kg. The same-month contract on COMEX was up 3% at $51.90 per ounce.

 

Outlook for the rest of the session:

--MCX gold seen at INR 122,000–INR 125,000 per 10 grams

--COMEX gold seen at $4,050.0–$4,130.0 an ounce

--MCX silver seen at INR 156,000-INR 160,000 per kg

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

End

 

US$1 = INR 88.58

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

 

Edited by Saji George Titus

 

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