More Stories

Informist, Thursday, Jan. 15, 2026

 

By Reshma Ravi

 

MUMBAI – Prices of gold and silver futures contracts on the Multi Commodity Exchange of India were unavailable for the morning session on Thursday due to municipal corporation elections in Maharashtra. In a circular, MCX said trading will remain closed in the morning session from 0900 IST to 1700 IST, while the evening session will be open from 1700 IST to 2355 IST.

 

Futures contracts of gold on COMEX fell Thursday due to profit booking after prices hit a record high in the previous session. On Wednesday, the most-active February gold contract on the COMEX hit a record high of $4,650.5 per ounce.

 

At 1531 IST, the most-active February GOLD contract on COMEX was down 0.5% at $4,614.6 per ounce. Prices also fell due to a strong dollar. At 1531 IST, the dollar index, which measures the strength in the greenback against a basket of six currencies, was up 0.1% at 99.18. A strong dollar makes commodities priced in the currency, such as gold and silver, less appealing to those holding other currencies, thereby denting demand. 

 

Easing geopolitical tensions weighed on the safe-haven appeal of gold. On Wednesday, US President Donald Trump said he had been told that killings in Iran were subsiding, and he believed there was no plan for large-scale executions. "Today, we're seeing that gold is down a bit after (Trump) said maybe we're not going to intervene in Iran, staving off safe-haven demand (in ‍the short run), but the larger story (of the metal's rise) is not going away," Reuters quoted Ilya Spivak, head of global macro at Tastylive.   

 

Sentiment was further hit due to Trump's softer tone on Federal Reserve Chair Jerome Powell. Trump said he has no plans to fire Powell despite a Justice Department criminal investigation, Reuters reported. 

 

SILVER contracts fell on COMEX tracking gold. At 1532 IST, the most-active March contract on COMEX was down 2% at $89.75 per ounce. 

 

Outlook for the rest of the session:

--COMEX gold seen at $4,550.0–$4,660.0 an ounce

--COMEX silver seen at $88.20-$91.40 an ounce

 

End

 

US$1 = INR 90.29

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

 

 

Edited by Vandana Hingorani

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.