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Informist, Friday, Jan. 2, 2026

 

By Pallavi Singhal

 

NEW DELHI – Futures contracts of gold on the Multi Commodity Exchange of India and the COMEX rose Friday amid persistent geopolitical risks and safe-haven demand, Kotak securities said in a statement. 

 

At 1652 IST, the most-active February GOLD contract on the MCX was up 0.8% at INR 136,910 per 10 grams. The most-active February gold contract on COMEX was up 1.5% at $4,406.3 per ounce.

 

Fresh warnings from US President Donald Trump regarding potential strikes on Iran, alongside reports of US action against a Venezuelan loading facility, have kept risk sentiment fragile. Moreover, tensions between Saudi Arabia and the United Arab Emirates have risen as the states' proxies clash in Yemen, with geopolitical risk further supporting the safe-haven asset, Dow Jones said in its report.

 

Expectations of lower borrowing costs, steady central-bank purchases, and renewed inflows into gold-backed exchange traded funds, are also pushing up the precious metal. Minutes from the US Federal Reserve's December meeting indicated that most policymakers would back rate cuts if inflation continues to ease, although divisions remain on the timing and scale of easing, which is boosting demand for the metal, Kedia Advisory said.

 

On the demand front, it added that China's net gold imports via Hong Kong have jumped 101.5% on month in November, while the People's Bank of China extended its gold buying streak for a thirteenth consecutive month. Globally, central banks added 53 tonnes of gold in October, the strongest monthly increase since November 2024. 

 

SILVER contracts on the MCX and COMEX were also up Friday, tracking rise in other precious metals such as gold. At 1654 IST, the most-active March silver contract on the MCX was up 3.8% at INR 244,750 per kg. The most-active March silver contract on COMEX was up 5% at $73.8 per ounce.

 

Spot gold of 99.9% purity was trading in the Ahmedabad market at INR 134,324 per 10 grams, up from INR 133,233 per 10 grams Thursday.

 

Outlook for the rest of the session:

--MCX gold seen at INR 135,000–INR 138,000 per 10 grams

--COMEX gold seen at $4,340.0–$4,450.0 an ounce

--MCX silver seen at INR 237,000-INR 250,000 per kg

--COMEX silver seen at $73.20-$74.80 an ounce

 

End

 

US$1 = INR 90.20

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

 

Edited by Tanima Banerjee

 

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