More Stories

Informist, Tuesday, Sept. 23, 2025

 

--MCX Oct gold contract hits new record high of INR 112,419 per 10 gm

--MCX Dec gold contract hits new record high of INR 113,437 per 10 gm

--COMEX Dec gold contract hits new record high of $3,795.1 per ounce

--MCX Dec silver contract hits new record high of INR 133,725 per kg

 

MUMBAI – Futures contracts of gold and silver on the Multi Commodity Exchange of India rose to fresh all-time highs, tracking high prices on COMEX amid dovish comments by US Federal Reserve Governor Stephen Miran. Markets participants are also pricing in two more interest rate cuts by the US Fed in 2025.

 

Miran Monday explained why he thinks the US central bank's key interest rates are too high. He said the Fed Funds rate should be around 2-2.5% under the standard Taylor rule approach. The current funds rate following last week's reduction is at 4.00-4.25%.

 

According to the CME FedWatch tool, 89.8% of traders are pricing in a 25-basis-point cut by the Fed at the October meeting and 75.4% are pricing in a 50-basis point cut at the December meeting. "Some Fed officials, including St. Louis Fed President Alberto Musalem, emphasised caution, citing limited room for easing amid persistent inflation," Kedia Advisory said in a note.  

 

Along with the persisting hopes of a rate cut by the US Fed, the weak domestic currency rupee is also supporting domestic prices of bullion, Kedia Advisory said. The domestic currency fell to a record low of 88.52 per dollar earlier Tuesday.

 

At 0947 IST, the most-active October gold contract on the MCX was 0.3% higher at INR 112,564 per 10 grams, after touching an all-time high of INR 112,419 per 10 grams. The December contract rose to a record high of INR 113,437 per 10 gm earlier. On COMEX, the most-active December gold contract was up 0.1% at $3,779.3 per ounce, after touching a record high of $3,795.1 per ounce. 

 

At 0948 IST, the most-active December silver contract was steady from the previous close at INR 133,665 per kilogram, after touching an all-time high of INR 133,725 per kg. On the COMEX, the most-active December gold contract was down 0.1% at $44.17 per ounce.

 

Outlook for the rest of the session:

--MCX Oct gold seen at INR 111,400–INR 113,200 per 10 grams

--COMEX Dec gold seen at $3,730.0–$3,810.0 an ounce

--MCX Dec silver seen at INR 131,500-INR 134,500 per kg

--COMEX Dec silver seen at $43.60-$44.80 an ounce

 

End

 

US$1 = INR 88.52

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

 

Reported by J. Navya Sruthi

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.