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Informist, Wednesday, Dec. 31, 2025

MUMBAI – Gold and silver prices in the spot market fell Wednesday, tracking fall in gold and silver futures on Multi Commodity Exchange of India and COMEX. Bullion contracts fell on exchanges after the Chicago Mercantile Exchange announced that it would raise margins on precious metal futures.   

Spot gold of 99.9% purity was trading in the Mumbai market at INR 133,099 per 10 grams, down from INR 134,599 per 10 grams Tuesday. Spot silver of 99.9% purity edged lower at INR 229,433 per kg, compared with INR 232,329 per kg Tuesday, Kumar Jain, spokesperson, India Bullion and Jewellers Association, said. 

Bullion prices fell after the Chicago Mercantile Exchange announced it would raise margins on precious metal futures for the second time in a week. The group has increased the margin for silver futures by 30% from $25,000 to $32,500, and for gold by 9% from $22,000 to $24,000, it said in a release. The higher margins for gold and silver contracts will take effect after trading ends on Wednesday. The move follows a review of "market volatility to ensure adequate collateral coverage," the group said.    

However, the fall in prices is limited due to ongoing geopolitical tensions between Russia and Ukraine, a jeweller said. Russia has said it will toughen its position in peace talks after accusing Kyiv of attacking the residence of Russian President Vladimir Putin, an allegation Kyiv dismissed as baseless and said it was designed to undermine peace negotiations. 

At 1558 IST, the most-active March silver contract on the MCX was down 6% at INR 236,850 per kilogram, and the March silver contract on COMEX was down 8% at $71.89 per ounce. At 1558 IST, the most-active February gold contract on the MCX was down 0.9% at INR 135,503 per 10 grams. The most-active February gold contract on COMEX was down 1% at $4,336.2 per ounce.  End

US$1 = INR 89.87

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

Reported by Reshma Ravi

Edited by Tanima Banerjee

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