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Informist, Monday, Dec. 22, 2025

 

--MCX Feb gold contract hits new record high of INR 135,698 per 10 gm

--MCX March silver contract hits new record high of INR 214,583 per kg 

--COMEX March silver contract hits new record high of $69.52 per ounce 

--COMEX Feb gold contract hits new record high of $4,429.7 per ounce 

 

MUMBAI – Futures contracts of gold and silver on the Multi Commodity Exchange of India hit fresh lifetime highs, tracking record high prices on COMEX. Bullion prices rose due to persistent purchases by central banks, increased expectations of further easing of interest rates in the US, and rising safe-haven demand amid geopolitical tensions between the US and Venezuela.

 

According to media reports, the US Coast Guard is pursuing a third oil tanker in international waters near Venezuela, amid increasing tensions between the two countries. "The United States Coast Guard is in active pursuit of a sanctioned 'dark fleet' vessel that is part of Venezuela's illegal sanctions evasion," Reuters quoted a US official as saying. "It is flying a false flag and under a judicial seizure order."

 

Recent softer-than-expected US inflation data has strengthened market conviction that the Federal Reserve could deliver two more rate cuts next year, reducing opportunity costs for holding non-yielding assets, Kedia Advisory said in a note.

 

At 1032 IST, the most-active February gold contract on the MCX was up 1% at INR 135,433 per 10 grams, after touching a record high of INR 135,698 per 10 grams. On COMEX, the same-month contract was up 1% at $4,426.7 per ounce, after touching a record high $4,429.7 per ounce. 

 

According to analysts, gold prices are likely to be under pressure due to profit-booking. "Given that gold has already risen 4% this month and we're nearing the end of the year, bulls may want to tread with caution as volumes are to deplete and odds of profit-taking are also likely on the rise," Reuters quoted StoneX senior analyst Matt Simpson.

 

From a technical perspective, gold is under fresh selling pressure, Kedia Advisory said. Kotak Securities sees immediate support at INR 134,660 per 10 grams, with further downside possible towards INR 133,020 per 10 grams. On the upside, resistance is placed at INR 135,913 per 10 grams, and a breakout above this level could open the way towards INR 137,552 per 10 grams. 

 

At 1032 IST, the most-active March silver contract on the MCX was up nearly 3% at INR 214,043 per kg, after touching a record high of INR 214,583 per kg. On COMEX, the same-month contract was up 3% at $69.44 per ounce, after touching a record high of $69.52 per ounce. 

 

Kotak Securities sees immediate support at INR 213,558 per kg, with further downside possible towards INR 204,370 per kg. On the upside, resistance is placed at INR 216,098 per kg, and a breakout above this level could open the way towards INR 222,746 per kg.  End

 

US$1 = INR 89.62

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

 

Reported by Reshma Ravi

Edited by Avishek Dutta

 

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