MCX iCOMDEX Composite index down; bullion up on hope of US-Iran deal
This story was originally published at 11:29 IST on 25 May 2026
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MUMBAI – The iCOMDEX Composite index of the Multi Commodity Exchange of India was down in early trade Monday. The index opened flat at 26061.83 points against Friday's close of 26062.46 points. At 1108 IST, the index was down 0.26% at 25995.75 points.
Among the three components of the Composite index, the bullion index was trading 0.6% higher, as gold rose 0.3% and silver rose 1.54%. Bullion prices rose as concerns about further rise in inflation eased due to hope of progress in talks between the US and Iran, which sent oil prices lower. On Saturday, US President Donald Trump said that an agreement had been "largely negotiated", prompting speculation that an announcement could be imminent, the BBC reported.
Iranian officials also signalled progress in talks over the weekend, with foreign ministry spokesperson Esmail Baghaei saying the two sides were both "very close and very far" from reaching an agreement, the report said. The deal under discussion reportedly involves a 60-day ceasefire extension, reopening the Strait of Hormuz and a plan for further negotiations over Iran's nuclear programme, the BBC reported.
The energy index was down 5.08%, with crude oil trading 5.37% lower while natural gas was trading 1.37% lower. The base metal index was up 0.13%, as copper was flat while lead was higher by 0.17%. Zinc was up 0.31% and aluminium was trading almost flat.
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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