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Informist, Thursday, Apr. 16, 2026

By Reshma Ravi

MUMBAI – Futures contracts of gold rose on the Multi Commodity Exchange of India and the COMEX on Thursday, recovering losses seen in the previous session, as sentiment improved after the US and Iran signalled at another round of peace talks, which eased concerns over high crude oil prices and a rise in inflation, analysts said.  

At 1814 IST, the most active June contract of GOLD was up 0.4% at INR 154,499 per 10 gram on the MCX. The same-month contract on COMEX was up 0.3% at $4,854.7 per ounce. The most active May SILVER contract on the MCX was up 0.4% at INR 252,800 per kilogram. The same-month contract on COMEX was up 0.2% at $79.77 per ounce.

"The US and Iran are likely to meet this week for a second round of peace talks, and if they reach a deal, it could further support both precious metal prices," Manoj Jain, director of Prithvi Finmart, said in a note.

On Wednesday, the White House said that talks regarding a potential second round of peace negotiations with Iran are "ongoing" and "productive". Meanwhile, mediators, including Pakistan, are reportedly working to bring the US and Iran back to the negotiating table.

US President Donald Trump on Wednesday claimed that the conflict with Iran was "very close to over", even as the blockade tightened. "In precious metals, gold remains supported amid renewed optimism around de-escalation. The pullback in oil prices is easing some of the inflation concerns that weighed on prices earlier in the conflict," analysts at ING Economics said in a report.

Typically, higher inflation supports gold, but it can also keep interest rates higher, which is negative for the non-interest-yielding metal. "This mix can keep gold range-bound, with global events like wars or energy shocks giving only short-term support," Satish Dondapati, vice-president and fund manager, Kotak Mahindra AMC, said in a note. 

US Federal Reserve officials continue to signal a prolonged pause in easing monetary policy, keeping real yields elevated, Kotak Securities said in a report. On Wednesday, Cleveland Federal Reserve President Beth Hammack said that the central bank is weighing threats to both inflation and employment and should keep interest rates on hold as conditions evolve.

Outlook for the rest of the session:

--MCX gold seen at INR 152,000–INR 157,000 per 10 gram

--COMEX gold seen at $4,760.0–$4,880.0 an ounce

--MCX silver seen at INR 248,000-INR 258,000 per kg

--COMEX silver seen at $76.00-$83.00 an ounce

End

US$1 = INR 93.20

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

Edited by Deepshikha Bhardwaj

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