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Informist, Monday, Aug. 3, 2026

MUMBAI – Multi Commodity Exchange of India's iCOMDEX Composite index fell to 22600.93 points in early trade Monday against its previous close of 22741.40 points. The index opened at 22742.30 points. Of the three components of the index, energy registered a fall while bullion and base metal marked a rise. 

At 1234 IST, the bullion index was up 0.36% at 32895.01 points. The gold sub-index was up 0.30% at 34882.70 points as US President Donald Trump held off on fresh attacks on Iran in hopes of a peace deal, easing concerns over inflation and higher interest rates. "A sustained break higher would likely require a clearer drop in oil prices, a softer dollar, or a shift in Fed rate expectations toward a more dovish stance. On the downside, any renewed escalation in the Middle East that pushes oil higher, or a strong NFP print that reinforces September rate-hike odds, could cap the upside," Tim Waterer, chief market analyst at KCM Trade, said. The silver sub-index was up 0.56% at 24837.81 points.

The base metal index was up 0.85% at 23899.99 points. The aluminium sub-index was up 0.29% at 15981.02 points, copper was up 0.53% at 20016.88 points, and zinc was up 1.51% at 35962.07 points. Lead was flat at 8975.37 points. Elevated zinc prices are supported by tighter near-term supply expectations following planned production cuts and maintenance at key mining and smelting operations in China, Kedia Advisory said in a note. 

The energy index was down more than 6% at 7397.34 points. The crude oil sub-index was down 7% at 11663.31 points amid hopes of de-escalation in the US-Iran war. "We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to," the US president said in a post on Truth Social. "Based on this request, I have agreed, for the future benefit of the WORLD and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a DEAL," he added. Prices also fell as the Organisation of the Petroleum Exporting Countries and its allies decided that they would raise production by 188,000 barrels a day in September. The natural gas sub-index was up 0.30% at 725.59 points.

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 Krupa Biju

Edited by Himanshi Gupta

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