More Stories

Informist, Tuesday, Feb. 17, 2026

By Reshma Ravi

MUMBAI – Futures contracts of gold and silver fell on the Multi Commodity exchange of India and on the COMEX Tuesday, extending losses for a second consecutive session amid thin trade as major markets were shut for public holidays, analysts said. Prices also fell amid easing geopolitical tensions between the US and Iran, which dented the precious metal's safe-haven appeal.

At 1559 IST, the most-active April GOLD contract on the MCX was down 1.1% at INR 153,001 per 10 grams. The most-active April contract on COMEX was down 2% at $4,954.4 per ounce. The most-active March SILVER contract on the MCX was down 3% at INR 232,507 per kilogram, and the same-month contract on COMEX was down 4.2% at $74.7 per ounce.

In Mumbai, the spot price of gold of 99.9% purity was INR 151,195 per 10 grams on Tuesday, down from INR 154,080 per 10 grams on Monday, said Kumar Jain, spokesperson for the India Bullion and Jewellers Association.

China and many other Asian markets were shut on Tuesday for Lunar New Year celebrations. US markets were closed on Monday for Presidents' Day. Trading remained thin, particularly in metals, analysts said. On Monday, US President Donald Trump said he would be involved "indirectly" in talks between Iran and the US over Tehran's nuclear programme set for Tuesday in Geneva, adding he believed Tehran wanted to make a deal, Reuters reported. Meanwhile, representatives of Ukraine and Russia will meet in Geneva on Tuesday and Wednesday for a fresh round of US-mediated peace talks that the Kremlin says will likely focus on territory. 

"...recent batch of economic data from US painted a mixed picture for Federal Reserve interest rate cut, as US job data signalled a stabilising labor market. While CPI data showed inflation increased less than expected," ICICI Direct said in a report. However, market participants are still expecting a rate cut by the US Federal Reserve in June. According to the CME FedWatch tool, 51.4% traders are now pricing in a 25-basis-point rate cut by the Federal Reserve in June, up from 44.5% a month ago. Typically, gold performs well in a low-interest-rate environment as it is a non-interest-yielding asset.

For more cues on the Fed's monetary policy, the market is awaiting the release of minutes of the US Federal Reserve's January meeting, due Wednesday. 

Outlook for the rest of the session:

--MCX gold seen at INR 150,000–INR 155,000 per 10 grams

--COMEX gold seen at $4,870.0–$5,000.0 an ounce

--MCX silver seen at INR 228,000-INR 237,000 per kg

--COMEX silver seen at $72.00-$76.00 an ounce

End

US$1 = INR 90.67

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

Edited by Akul Nishant Akhoury

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.