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Informist, Monday, Jan. 5, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold on the Multi Commodity Exchange of India and on COMEX rose because of rising safe-haven demand amid geopolitical uncertainties. Prices also rose because of growing expectations of a rate cut by the US Federal Reserve. 

 

At 1553 IST, the most-active February GOLD contract on the MCX was up 2% at INR 137,817 per 10 grams. The most-active February gold contract on COMEX was up 3% at $4,442.3 per ounce.

 

"Fresh geopolitical conflict has increased market instability, pushing investors towards gold as a safe-haven asset to protect their wealth," ICICI Direct said in a report. US President Donald Trump Saturday said the US had launched a "large-scale strike" on Venezuela, including the capital Caracas. US officials announced that Venezuela's President Nicolas Maduro and his wife, Cilia Flores, were transported to New York after the military operation and face charges of narco-terrorism conspiracy, besides other offences. 

 

Sunday, Trump said the US might launch a second military strike on Venezuela if the remaining members of the Maduro administration do not cooperate with his efforts to get the country "fixed".

 

Market participants' sentiment was also lifted by rising expectations of a rate cut by the Fed. "We are continuing to see the market talk about cuts in March and maybe another cut later this year... that combination with significant talk about markets potentially being at risk with tariffs and continued US debt are all kind of moving gold, silver, platinum, and palladium higher," Reuters quoted Bart Melek, global head of commodity strategy at TD Securities, as saying.

 

Market participants now await US non-farm payrolls data for December, due Friday, for further cues on a Fed rate cut.

 

SILVER contracts on the MCX and COMEX were also up Monday, tracking gains in gold. At 1553 IST, the most-active March silver contract on the MCX was up 4% at INR 245,002 per kg. The March silver contract on COMEX was up 7% at $75.88 per ounce.

 

Spot gold of 99.9% purity was trading in the Mumbai market at INR 135,721 per 10 grams, up from INR 134,782 per 10 grams Friday. Spot silver of 99.9% purity edged higher to INR 236,775 per kg, compared with INR 234,550 per kg Friday, Kumar Jain, spokesperson, India Bullion and Jewellers Association, said.

 

Outlook for the rest of the session:

--MCX gold seen at INR 136,500–INR 139,200 per 10 grams

--COMEX gold seen at $4,400.0–$4,500.0 an ounce

--MCX silver seen at INR 243,000-INR 248,000 per kg

--COMEX silver seen at $75.20-$76.60 an ounce

 

End

 

US$1 = INR 90.28

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

 

Edited by Nishant Maher

 

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