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Informist, Thursday, Nov. 27, 2025

 

By Afra Abubacker

 

NEW DELHI – Futures contracts of gold fell on the Multi Commodity Exchange of India on Thursday, tracking a decline in contracts on the COMEX as the dollar strengthened. Gold prices also fell as traders likely booked profits after prices rose for four straight sessions. Prices were also under pressure amid thin trading as US markets were shut for the Thanksgiving Holiday.

 

At 1545 IST, the most-active December GOLD contract on the MCX was down 0.3% at INR 125,605 per 10 grams. The most-active February contract on the COMEX fell 0.3% to $4,188.5 per ounce. 

 

Gold prices dipped on Thursday but remained near a two-week high as traders continued to bet on a rate cut by the US Federal Reserve next month. On Wednesday, the December gold contract hit a nearly two-week high of $4,209.0 per ounce.

 

Gold prices were also weighed down by easing safe-haven demand amid signs of possible progress in the Russia-Ukraine peace deal. Another round of meeting between the negotiating teams of Ukraine and the US to advance the peace deal will take place in the near future, according to media reports.

 

However, losses in gold prices were limited amid expectations of a Fed rate cut in December. According to the CME's FedWatch tool, 85% of traders are now pricing in a 25-basis-point rate cut in December, while 15% expect interest rates to be kept unchanged. Typically, a lower interest rate environment boosts the appeal of non-yielding precious metals.

 

SILVER contracts on the MCX rose, tracking gains in COMEX silver contracts. At 1545 IST, the most-active December silver contract on the MCX was up 0.6% at INR 162,195 per kg. The most-active March contract on the COMEX rose 0.3% to $53.75 per ounce. 

 

Outlook for the rest of the session:

--MCX gold seen at INR 124,437–INR 126,543 per 10 grams

--COMEX gold seen at $4,105–$4,239 an ounce

--MCX silver seen at INR 158,662-INR 163,326 per kg

--COMEX silver seen at $51.80-$55.10 an ounce

 

End

 

US$1 = INR 89.30

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

 

Edited by Saji George Titus

 

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