More Stories

Informist, Tuesday, Feb. 10, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold fell on the Multi Commodity Exchange of India and the COMEX Tuesday due to profit booking, analysts said. Market participants cautiously await the January US non-farm payrolls and unemployment data due Wednesday for further cues on the US Federal Reserve monetary policy path. The data releases were delayed from last week due to partial US government shutdown.  

 

At 1537 IST, the most-active April GOLD contract on the MCX was down 0.1% at INR 157,906 per 10 grams. The most-active April contract on COMEX was down 0.2% at $5,067.9 per ounce.

 

In Mumbai, the spot price of gold of 99.9% purity was INR 155,700 per 10 grams, up slightly from INR 155,593 per 10 grams on Monday, said Kumar Jain, spokesperson for the India Bullion and Jewellers Association.

 

The increased margins for the precious metals futures contracts by the Chicago Mercantile Exchange could also weigh on prices, Ajay Kedia, director, Kedia Advisory said. Both initial and maintenance margins for COMEX 100 gold futures have been increased to 9% from 8% for non-heightened risk profile accounts. Initial and maintenance margins for COMEX 5000 silver futures have been hiked to 18% from 15%, Reuters reported. The rise in margins is to mitigate risks associated with heightened volatility in the market. 

 

However, the fall in prices could be limited due to increasing expectations of a rate cut by the US Federal Reserve. On Monday, White House Economic Adviser Kevin Hassett said that job growth might decline in the coming months because of slower labour force expansion and increased productivity. "Sentiment was further boosted after San Francisco Fed President Mary Daly described the US labor market as being in a "precarious" position, indicating that additional rate cuts may be warranted," Kedia Advisory said in a note. Market participants expect at least two 25-basis-point rate cuts in 2026, with the first one expected in June. Typically, gold performs well in a low-interest-rate environment as it is a non-interest-yielding asset.    

 

"Markets are holding key support levels and could rebound again from lower levels amid weakness in the dollar index and safe-haven buying due to US-Iran conflicts," Manoj Jain, director at Prithvi Finmart, said. 

 

SILVER contracts on the MCX and COMEX were also down Tuesday, tracking losses in gold. At 1538 IST, the most-active March silver contract on the MCX was down 1.3% at INR 259,127 per kilogram, and the same contract on COMEX was down 0.7% at $81.68 per ounce.

 

Outlook for the rest of the session:

--MCX gold seen at INR 152,000–INR 163,000 per 10 grams

--COMEX gold seen at $4,980.0–$5,120.0 an ounce

--MCX silver seen at INR 240,000-INR 280,000 per kg

--COMEX silver seen at $80.00-$85.00 an ounce

 

End

 

US$1 = INR 90.57

 

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

 

Edited by Tanima Banerjee

 

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.