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Informist, Wednesday, Apr. 22, 2026

By Reshma Ravi

MUMBAI – Futures contracts of gold and silver rebounded on the Multi Commodity Exchange of India and the COMEX Wednesday as market sentiment was lifted after the US extended the ceasefire with Iran, easing fears about inflation, analysts said. Gold and silver prices rebounded on the MCX after falling for two consecutive sessions.

US President Donald Trump announced an extension of the two-week ceasefire with Iran even as the US continued the blockade of Iranian ports until Tehran submitted a proposal for talks and "discussions are concluded, one way or the other". 

At 1901 IST, the most active June contract of GOLD was up 0.8% at INR 152,852 per 10 grams on the MCX. The same-month contract on COMEX was up 1% at $4,779.2 per ounce. The most active May SILVER contract on the MCX was up 1% at INR 247,954 per kilogram. The same-month contract on COMEX was up 2% at $77.76 per ounce.

However, gains in prices are likely to be capped due to uncertainty over the situation in West Asia, analysts at Kedia Advisory said. "The collapse of US-Iran peace talks, despite a ceasefire extension, kept geopolitical uncertainty high, while the Strait of Hormuz remained closed amid ongoing tensions," the analysts said. The second round of negotiations between the US and Iran was cancelled after Tehran declined to participate. 

Gains are also likely to be capped due to hawkish comments from the US Federal Reserve Chief nominee Kevin Warsh. "His relatively hawkish tone reduced bullion appeal, limiting safe-haven demand support," analysts said. On Tuesday, Warsh said he had made no promises to Trump about cutting interest rates, as he tried to assure US senators mulling over his confirmation to lead the central bank that he would act independently of the White House while pursuing broad reforms. 

Meanwhile, "Near term, metals are likely to remain range-bound with a cautious bias, balancing geopolitical uncertainty against macro headwinds," Kotak Securities said in a report.

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–$4,830 an ounce

--MCX silver seen at INR 245,000-INR 253,000 per kg

--COMEX silver seen at $75.00-$81.00 an ounce

End

US$1 = INR 93.80

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

Edited by Akul Nishant Akhoury

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