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Informist, Wednesday, Feb. 25, 2026

 

By Ashutosh Pati

 

MUMBAI – Futures contracts of gold and silver rose on the Multi Commodity Exchange of India on Wednesday, tracking a rise in contracts on the COMEX because of a weak dollar. Market sentiment was also lifted by rising safe-haven demand for the precious metals amid uncertainty around US tariffs and heightened geopolitical tensions between US and Iran.

 

At 1633 IST, the most-active April GOLD contract on the MCX was up 0.5% at INR 160,840 per 10 grams. The most-active April contract on the COMEX was up 0.3% at $5,193.0 per ounce. The most-active March SILVER contract on the MCX was up 1.8% at INR 265,500 per kilogram and the May contract on the COMEX was up 3.3% at $91.01 per ounce.

 

"Ongoing ambiguity around U.S. import tariffs and escalating Middle East (West Asia) tensions, including an American military buildup ahead of renewed Iran nuclear talks, continue to anchor safe-haven flows," Kotak Securities said in a report. "Elevated sovereign debt concerns have also revived interest in the debasement trade, prompting asset rotation away from paper currencies and bonds into hard assets. Silver outperformed, rallying over 4% as fresh U.S. tariffs took effect and geopolitical risks intensified," it added.

 

After the US Supreme Court struck down most tariffs imposed by him in 2025, President Donald Trump imposed a baseline 10% tariff on all US imports for 150 days which came into effect Tuesday. Trump also threatened to raise the baseline tariff to 15%, but is yet to sign an executive order to implement the higher rate.

 

However, the gains in gold and silver prices were capped after two US Federal Reserve officials indicated that there is no immediate desire to alter the current central bank interest-rate policy. "I think that it's quite likely that it'll be appropriate to hold ‌in the current range for some time," Federal Reserve Bank of Boston President Susan Collins said in a panel discussion at a conference on technology held by her bank. However, she added, "there are different scenarios that are possible, and so it'll be important to continue to really take that patient, deliberate approach to making policy decisions."

 

"Precious metals remain structurally supported by geopolitical risk and fiscal concerns, but sustained upside will hinge on a clearer shift in monetary policy expectations," Kotak Securities said.

 

Meanwhile, JP Morgan expects gold prices to reach $6,300 per ounce by the end of 2026, primarily because of strong demand from central banks and investors.

 

Outlook for the rest of the session:

--MCX gold seen at INR 157,500–INR 162,500 per 10 grams

--COMEX gold seen at $5,140.0–$5,250.0 an ounce

--MCX silver seen at INR 260,000-INR 272,000 per kg

--COMEX silver seen at $89.00-$93.00 an ounce

 

End

 

US$1 = INR 90.94

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

 

Edited by Ashish Shirke

 

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