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Informist, Sunday, Feb. 1, 2026

 

--MCX April gold hits lower circuit at INR 138,634 per 10 grams 

--MCX March silver hits lower circuit at INR 265,652 per kg 

 

MUMBAI – Futures contracts of gold and silver hit lower circuits on the Multi Commodity Exchange of India on Sunday, tracking the fall in contracts on the COMEX Friday, analysts said. The precious metals also fell as the Chicago Mercantile Exchange announced it would raise margins on precious metal futures. Prices also fell due to fading expectation of a rate cut by the US Federal Reserve.

 

At 1350 IST, the most-active April gold contract on the domestic bourse was at INR 147,801 per 10 grams. Earlier in the day, it hit lower circuit at INR 138,634 per 10 grams. At 1352 IST, the most-active March silver contract on MCX was at INR 266,200 per kg, after hitting the lower circuit at INR 265,652 per kg earlier.

 

The Chicago Mercantile Exchange has increased the margin requirements for gold and silver futures contracts with effect from Monday, it said in a release. For non-heightened risk profiles, gold futures margins have been increased to 8% from the current 6%. For heightened risk profiles, the margins have been raised to 8.8% from the present 6.6%. Silver futures margins for non-heightened risk profiles have been increased to 15% from the current 11%. For heightened risk profiles, the margins have been raised to 16.5% from the present 12.1%.

 

"...hopes for aggressive interest rate cut by US Federal Reserve started fading after US President Donald Trump named former Fed Governor Kevin Warsh as his choice to succeed Jerome Powell as Fed Chair," ICICI Direct said in a report. On Friday, Trump picked Warsh to lead the US Fed when current chair Powell's four-year term ends in May.

 

For rest of the day, the April gold contract is expected to trade in a range of INR 138,000–INR 152,000 per 10 grams on the MCX. The March silver contract is expected to trade in a range of INR 260,000–INR 320,000 per kg.  End

 

US$1 = INR 91.98

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

 

Reported by Reshma Ravi

Edited by Ashish Shirke

 

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