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Informist, Wednesday, Mar. 25, 2026

By Reshma Ravi

MUMBAI – Futures contracts of gold rebounded on the Multi Commodity Exchange of India and the COMEX on Wednesday amid renewed hope of de-escalation in West Asia war, which have eased fears about inflation and higher global interest rates, analysts said. Silver contracts extended gains for a second straight day after falling for nine consecutive sessions.

At 1629 IST, the most-active April GOLD contract on the MCX was up 4% at INR 144,183 per 10 grams. The most-active April contract on COMEX was up 4% at $4,555.9 per ounce. The most-active May SILVER contract on the MCX was up 5% at INR 235,889 per kilogram. The same month contract on the COMEX was up 5% at $72.96 per ounce.

"The move was driven by improving sentiment around a potential de-escalation in the Middle East (West Asia), following reports that the US is pursuing talks with Iran, including a 15-point proposal and a possible one-month ceasefire," analysts at Kedia Advisory said in a note.

On Tuesday, President Donald Trump had said the US was making progress in its efforts to negotiate an end to the war with Iran. The US has sent Iran a 15-point plan to end the war, through Pakistan, whose army chief has emerged as the key interlocutor between the two belligerents, The New York Times reported, citing sources. It is unclear how widely the plan had been shared among Iranian officials and whether Iran is likely to accept it as a basis for negotiations, the report said.

"Any sign of further progress on ceasefire or end to the conflict could cool down inflation concerns and increase the prospects of interest rate cut," ICICI Direct said in a report. 

However, "Federal Reserve Governor Michael Barr said the central bank may need to keep rates elevated for some time to address inflation," ICICI Direct said. Michael Barr said the Fed may need to keep interest rates steady "for some time" before further cuts are warranted, noting continued inflation above the Fed's 2% target and the risks posed by the ongoing conflict in West Asia, Reuters reported.

Outlook for the rest of the session:

--MCX gold seen at INR 140,000–INR 146,000 per 10 grams

--COMEX gold seen at $4,500.0–$4,620.0 an ounce

--MCX silver seen at INR 226,000-INR 243,000 per kg

--COMEX silver seen at $70.00-$75.00 an ounce

End

US$1 = INR 93.98

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

Edited by Akul Nishant Akhoury

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