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Informist, Monday, Jul. 6, 2026

MUMBAI – The iCOMDEX Composite index of the Multi Commodity Exchange of India moved in a narrow range early Monday as most commodities covered by the index showed mixed trends. At 1057 IST, the Composite Index was at 22880.84 points, down 0.2% from Friday. It had opened at 22916.50 points Monday.

Among the components of the Composite Index, bullion was down 0.3% at 34468.83 points, with gold down 0.2% and silver down 0.4%. Prices of precious metals declined to snap a slight rally seen last week as concern about tighter monetary policy in the US eased. Softer US jobs data and a decline in international crude oil prices have prompted investors to dial back on expectations of rate hikes by the US Federal Reserve.

The energy index of MCX'S iCOMDEX fell 0.1% to 6612.76 points, with crude oil up 0.2% and natural gas down 1.9%. Crude oil prices were slightly supported after reports said Iran has sought to tighten its control over the Strait of Hormuz again. Natural gas prices fell as the Centre Saturday revoked the emergency supply restrictions imposed in March during the West Asia conflict, restoring normal gas allocation to fertiliser plants, refineries, city gas distributors, and industrial consumers.

The base metal index was up 0.25% at 22738.54 points. Aluminium and zinc rose 0.5% and 0.46%, respectively, while lead and copper were down 0.13% each. Zinc prices were supported by improving global manufacturing activity and tightening near-term supply conditions, while aluminium prices were supported by easing expectations of rate hikes by the US central bank, Kedia Advisory said.

The MCX iCOMDEX comprises a series of real-time commodity futures 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 Shrestha Paul and Shreya Shetty

Edited by Shubhayan Bhattacharya

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