MCX iCOMDEX index down, bullion falls on US Fed rate hike expectations
This story was originally published at 11:42 IST on 23 June 2026
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MUMBAI – The iCOMDEX Composite index of the Multi Commodity Exchange of India traded lower, dragged down by a fall in all the three component indices. The index opened at 23313.84 points, lower than Monday's close of 23351.42 points. At 1126 IST, the index was down 1.5% at 23007.37 points.
Among the three components of the Composite index, the bullion index traded 1.5% lower, as gold declined 1.1% and silver 3% from the previous day's closing. Bullion prices fell on expectations of a US Federal Reserve interest rate hike this year, while investors assessed US-Iran peace talks. US Vice-President J.D. Vance said Iran had agreed to admit nuclear monitors into the country after negotiations in Switzerland, CNN reported. However, Iran denied making any new commitments. Meanwhile, US President Donald Trump said preventing Iran from obtaining a nuclear weapon outweighed the potential economic consequences of prolonged military action, the report said.
The energy index was down 0.2%, with crude oil trading 0.2% lower and natural gas down 0.3%. The base metal index fell 1.2%, with copper down 1% and zinc down 1%. Aluminium was trading 2% lower and lead was down 0.1%.
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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