MCX iCOMDEX Composite index down amid inflation fears
This story was originally published at 10:54 IST on 20 May 2026
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MUMBAI – The iCOMDEX Composite index of the Multi Commodity Exchange of India fell in early trade Wednesday after opening marginally higher than Tuesday's close. The index opened marginally up at 26384.23 points against Tuesday's close of 26362.32 points. At 1048 IST, the index was down 0.4% at 26269.26 points.
Among the three components of the Composite index, the bullion index was trading 0.6% lower, as gold declined 0.5% and silver 1.1%. Bullion prices were down in early trade amid concerns of a further rise in inflation as oil prices remained higher with the Strait of Hormuz still largely shut. Rising US inflation has reduced expectations of rate cuts by the Federal Reserve this year, while increasing speculation that policymakers could raise interest rates. Typically, higher interest rates dim the appeal of the non-interest-bearing precious metal.
The rising US Treasury yields also weighed on prices. The 30-year US Treasury bond's yield hit its highest in 19 years on Tuesday, CNBC reported. US 10-year yields rose to their highest levels in more than a year, the report said.
The energy index was up, with crude oil trading 0.4% higher and natural gas trading 0.6% higher. On the other hand, the base metal index was volatile with copper down 0.3%, and lead down 0.1%. However, aluminium and zinc were marginally higher.
The MCX iCOMDEX comprises a series of real-time commodity futures price indices and tracks the performance of a basket of commodity futures. It serves as a benchmark for market movements in bullion, base metals, and energy. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Reshma Ravi
Edited by Avishek Dutta
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