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Informist, Monday, Apr. 13, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold and silver fell on the Mutli Commodity Exchange of India on Monday as the failure of US-Iran peace talks fuelled worries about inflation, raising concerns about a hike in interest rates by central banks, analysts said.

 

At 1602 IST, the most-active June contract of GOLD was down 0.7% at INR 151,562 per 10 grams on the MCX. The same-month contract on COMEX was down 0.1% at $4,735.2 per ounce. The most-active May SILVER contract on the MCX was down 2.1% at INR 238,181 per kilogram. The same-month contract on COMEX was steady at $74.33 per ounce.

 

Gold and silver futures fell as crude oil prices rose after US-Iran peace talks ended without an agreement which raised the inflation concerns, Manoj Jain, director of Prithvi Finmart, said. On Sunday, US President Donald Trump said the US Navy would start blockading the Strait of Hormuz after peace negotiations with Iran that stretched to over 20 hours ended without an agreement.

 

Iran's Revolutionary Guards responded by warning that military vessels approaching the strait will be considered a breach of ceasefire and dealt with harshly and decisively. Since the war in West Asia started late February, Iran has closed shipping in the Strait of Hormuz, through which about 20% of the world's oil flows. "Investors fear that surge in inflation may prompt major central banks across globe to tighten their monetary policy," ICICI Direct said in a report.

 

US consumer prices index data showed inflation rose the most in nearly four years, reinforcing expectations that US Fed may have to tighten monetary policy, which weighed on gold and silver prices, analysts at Kedia Advisory said. The CPI index jumped 0.9% last month, the largest increase since June 2022, when prices soared following Russia's invasion of Ukraine. Consumer prices rose 0.3% in February.

 

Outlook for the rest of the session:

--MCX gold seen at INR 148,000–INR 154,000 per 10 grams

--COMEX gold seen at $4,680.0–$4,780.0 an ounce

--MCX silver seen at INR 230,000-INR 246,000 per kg

--COMEX silver seen at $71.00-$77.00 an ounce

 

End

 

US$1 = INR 93.37

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

 

Edited by Ashish Shirke

 

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