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Informist, Friday, May 22, 2026

MUMBAI – The iCOMDEX Composite index of the Multi Commodity Exchange of India was steady in early trade Friday after opening marginally lower than Thursday's close. The index opened marginally lower at 26246.37 points against Thursday's close of 26269.85 points. At 1151 IST, the index was flat at 26245.44 points. 

Among the three components of the Composite index, the bullion index was trading 0.2% lower, as gold declined 0.2% and silver fell 0.2%. Bullion prices were down in early trade amid uncertainty about the ongoing US-Iran negotiations. Tehran indicated that the latest 14-point framework from the US helped narrow differences between both sides, but reports that Iran's Supreme Leader ordered keeping Tehran's uranium stockpile and a dispute over tolls in the Strait of Hormuz clouded the outlook for a breakthrough.

Iran's Supreme Leader has issued a directive that the country's near-weapons-grade uranium should not be sent abroad, Reuters reported, hardening Tehran's stance on one of the main US demands at peace talks.

The energy index was volatile, with crude oil trading 0.7% higher. However, natural gas was trading 0.3% lower. The base metal index was up 0.5%, supported by copper, which was up 0.4%, as also zinc which was up 0.7%. Lead was up 0.1% and aluminium was up 0.5%.

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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