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Informist, Monday, Jun. 15, 2026

 

By Reshma Ravi

 

MUMBAI – Futures contracts of gold rose to a near one-week high on the Multi Commodity Exchange of India and COMEX Monday after the US and Iran reached a deal to end the war, easing concerns about inflation and higher interest rates. Market participants now await the US Federal Reserve's policy decision and remarks, which are due on Wednesday.            

 

At 1600 IST, the most active August contract of GOLD was up 2% at INR 153,332 per 10 grams on the MCX. The same-month contract on COMEX was up 3% at $4,359.8 per ounce. The most active July SILVER contract on the MCX was up 3% at INR 252,982 per kilogram. The same-month silver contract on COMEX was up 4% at $70.73 per ounce.

 

COMEX gold prices rose to a near one-week high of $4,366.10 per ounce. On the domestic bourse, gold prices rose to a near one-week high of INR 153,829 per 10 grams.

 

"Gold and silver recovered from their lows last week after US President Donald Trump said that the US and Iran have agreed to sign a peace deal on 14th June," Manoj Jain, director of Prithvi Finmart said in a note. Precious metals futures rose after crude oil prices fell sharply as US and Iranian officials said they had reached an agreement to end their war and reopen the Strait of Hormuz. The pact will be officially signed on Friday in Switzerland, Pakistan Prime Minister Shehbaz Sharif said. "If crude oil prices remain at lower levels due to the US-Iran peace deal, it could also ease fears of Fed rate hikes and support gold and silver prices," Jain added.

 

Gold prices have been under pressure since the onset of the US-Israeli war against Iran in late February, as surging oil-driven inflation risks strengthened expectations of higher-for-longer interest rates. While gold is typically seen as a hedge against inflation, it loses appeal in a high interest-rate environment as the opportunity cost of holding the non-yielding asset increases.

 

"Meanwhile, sharp upside may be capped as investors will remain cautious ahead of US Federal Reserve monetary policy scheduled this week, the first policy meeting under the leadership of Kevin Warsh," ICICI Direct said in a report. "The central bank is most likely to keep policy untouched, but more focus will be on statements and dot-plot to get clarity on interest rate trajectory," it added.

 

Outlook for the rest of the session:

--MCX gold seen at INR 149,500–INR 154,000 per 10 grams

--COMEX gold seen at $4,070–$4,400 an ounce

--MCX silver seen at INR 230,000-INR 253,000 per kg

--COMEX silver seen at $66.00-$71.00 an ounce

 

End

 

US$1 = INR 94.71

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

 

Edited by Avishek Dutta

 

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