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Informist, Friday, Feb. 27, 2026

By Reshma Ravi

MUMBAI – Futures contracts of gold rose on the Multi Commodity Exchange of India Friday. Gold prices on the COMEX were steady after trading in the green for most of the session as market participants cautiously await US producer price index data, due later in the day, for further cues on the US Federal Reserve's rate cut policy. The precious metal gained due to global trade tensions and geopolitical uncertainty, which increased the yellow metal's safe-haven appeal, analysts said.     

At 1629 IST, the most-active April GOLD contract on the MCX was up 0.3% at INR 160,255 per 10 grams. The most-active April contract on the COMEX was steady at $5,194.0 per ounce.

After the US Supreme Court struck down most tariffs imposed by President Donald Trump in 2025, he imposed baseline 10% tariff on all imports for 150 days, which came into effect Tuesday. On Wednesday, US Trade Representative Jamieson Greer said the tariff rate for some countries will rise to 15% or higher from 10%, without naming any specific trading partners or giving details.

Meanwhile, gold edged higher on the domestic exchange as market participants analysed the outcome of the third round of US-Iran talks over Tehran's nuclear programme. The latest round ended Thursday without a deal, analysts said. The US and Iran made progress in the talks, but hours of negotiation ended with no sign of a breakthrough that could avert potential US strikes amid a massive military buildup in the Persian Gulf, Reuters reported.

"Continued military buildup in the Middle East (West Asia) and the March 1–6 deadline for US–Iran nuclear talks are keeping safe-haven demand elevated," ICICI Direct said in a report. 

Meanwhile, this week, Chicago Federal Reserve President Austan Goolsbee signalled that Fed rate cuts remain possible if inflation moderates further, while Federal Reserve Bank of Boston President Susan Collins emphasised on labour market strength, supporting a higher-for-longer stance, Kaynat Chainwala, assistant vice president of Kotak Securities, said in a note. Similarly, Thomas Barkin, president of the Federal Reserve Bank of Richmond, noted that policy is already well positioned, suggesting no immediate need for adjustment, Chainwala added.

"We expect gold and silver prices to remain volatile in today's session amid volatility in the dollar index, US-Iran talks and ahead of the US PPI (Producer Price Index) data," Manoj Jain, director of Prithvi Finmart, said.  

SILVER contracts on the MCX and COMEX also rose Friday. At 1629 IST, the most-active May silver contract on the MCX was up 2.4% at INR 274,350 per kilogram and the same contract on the COMEX was up 3% at $90.09 per ounce.

Outlook for the rest of the session:

--MCX gold seen at INR 158,000–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 276,000 per kg

--COMEX silver seen at $88.00-$93.00 an ounce

End

US$1 = INR 90.98

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

Edited by Tanima Banerjee

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