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Informist, Friday, Apr. 10, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold and silver fell on the Multi Commodity Exchange of India and the COMEX on Friday as market participants remained cautious ahead of the US Consumer Price Index data for March, which is due later in the day, for cues on the Federal Reserve's rate-cut path, analysts said. However, gold futures are on course for a third straight weekly gain.   

 

At 1607 IST, the most-active June contract of GOLD was down 0.6% at INR 152,470 per 10 grams on the MCX. The same-month contract on COMEX was down 1.1% at $4,783.6 per ounce. The most-active May SILVER contract on the MCX was down 1% at INR 241,313 per kilogram. The same-month contract on COMEX was down 1% at $75.64 per ounce.

 

Prices fell as investors remained cautious ahead of the US-Iran talks this weekend, Manoj Jain, director of Prithvi Finmart, said. The US delegation is scheduled to meet Iranian officials in Pakistan on Saturday to discuss a potential peace agreement. US Vice President J.D. Vance, special envoy Steve Witkoff, and the US President's son-in-law Jared Kushner will participate in the talks. The Iranian delegation will be led by Parliament Speaker Mohammad Bagher Ghalibaf and Foreign Minister Abbas Araghchi. Meanwhile, Iran's President Masoud Pezeshkian criticised Israeli strikes on Lebanon as violations of the ceasefire and warned that continued strikes would make negotiations meaningless.

 

Precious metals futures fell on lingering fears of higher inflation as oil prices continued to rise, driven by persistent tensions in West Asia, analysts at Kedia Advisory said. Israel continued to bombard Lebanon after killing more than 300 people and injuring at least 1,150 in a single day of strikes across the country on Wednesday, Al Jazeera reported. "Higher energy prices and elevated inflation worries could prompt the US Fed to maintain the status quo on interest rates and could also limit gains of gold and silver," ICICI Direct said in a report.

Gold and silver futures also fell on profit booking after prices rose in the previous session, Manoj Jain said. "We expect gold and silver prices to remain volatile in today's (Friday's) session amid volatility in the dollar index, volatility in crude oil prices and ahead of the US and Iran ceasefire talks," Jain added.

 

Outlook for the rest of the session:

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

--COMEX gold seen at $4,720.0–$4,820.0 an ounce

--MCX silver seen at INR 235,000-INR 245,000 per kg

--COMEX silver seen at $72.00-$78.50 an ounce

End

 

US$1 = INR 92.73

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

 

Edited by Saji George Titus

 

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