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Informist, Friday, Apr. 17, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold were steady on the Multi Commodity Exchange of India and on the COMEX Friday on optimism about a possible US-Iran peace ‌deal, analysts said. Gold futures are meanwhile headed for a fourth straight weekly gain this week, analysts said. 

 

At 1744 IST, the most active June contract of GOLD was steady at INR 153,074 per 10 grams on the MCX. The same-month contract on COMEX was steady at $4,825.5 per ounce. The most active May SILVER contract on the MCX was up 1% at INR 251,450 per kilogram. The same-month contract on COMEX was up 1.2% at $79.64 per ounce.

 

Gold futures are steady as the market increasingly prices in a potential US–Iran de-escalation, with expectations of restored oil flows helping ease inflation concerns and pressure on rate hikes, Kotak Securities said in a report. On Thursday, US President Donald Trump said that a second round of talks with Iran could take place this weekend. "Iran wants to make a deal, and we're dealing very nicely with them... They've agreed to give us back the nuclear dust," he said.

 

Israel and Lebanon have agreed on a 10-day ceasefire, effective Thursday, after weeks of fighting between Israel and the Iran-backed militant group Hezbollah, The Wall Street Journal reported.

 

"We expect gold and silver prices to remain volatile in the near term amid volatility in the dollar index, volatility in crude oil prices and possible second round of peace talks between the US-Iran," Manoj Jain, director of Prithvi Finmart, said. Despite the recent volatility, gold is up 1% this week and remains significantly above its March lows, reflecting underlying resilience, Kotak said. 

 

"Bullion remains supported by macro uncertainty and policy easing expectations, but sustained upside will require stronger ETF (exchange traded funds) participation; absent that, prices may consolidate despite supportive fundamentals," Kotak said.

 

Outlook for the rest of the session:

--MCX gold seen at INR 150,000–INR 156,000 per 10 gram

--COMEX gold seen at $4,750.0–$4,860.0 an ounce

--MCX silver seen at INR 245,000-INR 255,000 per kg

--COMEX silver seen at $77.00-$82.00 an ounce

 

End

 

US$1 = INR 92.93

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

 

Edited by Saji George Titus

 

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