Latest news with #MCX
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Business Standard
an hour ago
- Business
- Business Standard
MCX hits new high, surges 27% in 1 month; what's behind the stock rally?
Shares of Multi Commodity Exchange of India (MCX) hit an all-time high of ₹8,068.95, gaining 4 per cent on the BSE in Friday's intra-day trade. The stock price of India's leading Commodity Derivatives Exchange has surpassed its previous high of ₹8,033.30 touched on June 10, 2025. Thus far in the month of June, it has rallied 22 per cent. In the past month, MCX has outperformed the market by surging 27 per cent, as compared to a 1.2 per cent rise in the BSE Sensex. In the past year, the market price of MCX zoomed 110 per cent, as against a 6 per cent gain in the benchmark index. What's driving MCX stock price? MCX's key growth drivers include new product launches, futures and options; continued volatility in key commodity prices (gold, crude oil, and natural gas) amid global uncertainties; and sustained growth momentum in retail participation in the options market, according to the analysts. On June 6, 2025, MCX received approval from the Securities and Exchange Board of India (Sebi) to launch Electricity Derivatives, marking a significant milestone in the evolution of India's Energy trading landscape. This development underscores the strong commitment and support of the Regulators - SEBI and Central Electricity Regulatory Commission (CERC) - in enabling a dynamic and sustainable power market, MCX said. Track LIVE Stock Market Updates Today The Electricity Derivatives Contracts to be introduced by MCX will enable generators, distribution companies, and large consumers to hedge against price volatility and manage price risks more effectively, by enhancing efficiency in the power market. 'This landmark move positions MCX as a torchbearer of innovation in commodity trading, while reinforcing India's ambition towards sustainable energy and capital market development. It also marks a pivotal step toward deepening India's energy markets and aligns with the broader vision of 'Viksit Bharat',' MCX said in an exchange filing. ICICI Securities' view on MCX MCX, since the start of the financial year 2025-26 (FY26), has witnessed a surge in options/futures volumes. For the combined timeframe of April/May 2025, the options' notional average daily turnover value (ADTV) stood at ₹2.56 trillion (up 34 per cent versus FY25 notional ADTV). Options Premium ADTV stood at ₹4,130 crore (up 33 per cent versus FY25 premium ADTV). Futures ADTV stood at ₹40,700 crore (up 50.5 per cent versus FY25 futures ADTV). The majority increase in volumes was driven by a strong surge in gold volumes, where notional/premium/futures ADTV increased 218 per cent/283 per cent/161 per cent in the first two months of FY26 versus FY25. This strong surge in gold volumes stemmed primarily from the modification in gold options contracts to monthly expiry contracts (prior bi-monthly) effective November 11, 2024. Momentum seen in April/May 2025 continued in the first two weeks of June. Passage of key regulations such as the New Equity Derivatives Framework in November 2024, the New Risk monitoring Framework for Equity Derivatives in May and finalisation of expiry for equity derivatives in June, imply a stable outlook ahead for exchanges, the brokerage firm said. About MCX MCX, operational since 2003, is India's leading commodity derivatives exchange with a market share of about 98 per cent in terms of the value of commodity futures contracts traded in the financial year 2024-25. With pan-Indian presence, MCX serves as a dynamic platform for the Indian commodity market ecosystem, offering dual advantages of fair price discovery and efficient risk management. It offers trading in a diverse range of commodities, spanning multiple segments including bullion, energy, metals and agri commodities, as well as sectoral commodity indices.
Time of India
2 hours ago
- Business
- Time of India
Gold price prediction: Meltdown as prices fall by Rs 600/10 gram amid profit booking. Can bulls stage a comeback?
Gold prices fell on Friday as investors took refuge in the greenback amid growing tensions between Israel and Iran. Moreover, a status quo on the US interest rate has helped the dollar index (DXY) strengthen, reducing some appeal in the yellow metal. The domestic gold prices fell sharply taking cues from the international prices. Gold rate today On the MCX, the August Gold futures were trading at Rs 98,664, down by Rs 665 or 0.67% from the Thursday closing price. Meanwhile, gold contracts on the COMEX were hovering around $3,367.20 per troy ounce, plunging by $40.90 or 1.20%. The movement in gold rates are inversely related to the dollar movement. When the Federal Reserve cuts interest rates, the returns on dollar-denominated assets like the US treasury bonds or savings accounts become less attractive and hence global investors may move their money to countries with higher interest rates, reducing demand for USD. Commenting on the action, Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services said that the breather this week was on profit-booking, after the U.S. Fed's hawkish comments on interest rates and easing geo-political risk premium. The Street awaits U.S. President Donald Trump's decision if the US will enter the Iran-Israel war in two weeks. "On charts prices may find some resistance around Rs 99,300-99,650, while on the downside support is seen at Rs 98,000-97,650," Mer said. The price of physical gold in Delhi-NCR market is still above the Rs 1 lakh mark. This includes a 3% GST levy. Renisha Chainani, Head - Research at Augmont also sees profit-booking in gold after record highs of Rs 1,01,078 per 10 gram on the MCX. "Precious metals have reversed as support from growing geopolitical tensions in the Middle East is offset by a stronger dollar overall and the possibility of fewer interest rate reductions from the US," Chainani said. Technical triggers "Gold prices are consolidating around record-high levels in the range of Rs 99,000($3,360) and Rs 101,000 ($3,475). Despite the Fed's hawkish tone, ongoing geopolitical tensions between Iran and Israel continue to offer downside protection for gold, Jateen Trivedi, Vice President Research Analyst - Commodity and Currency, LKP Securities opines. "The broader trend remains range-bound to positive, with a key support level seen at $3,290, and strong resistance near $3,500 on Comex. Unless there is a clear resolution on geopolitical fronts or a shift in Fed commentary, gold is likely to stay buoyant within this broad band," he added. Silver price today The July silver futures plunged by Rs 1,395 or 1.3% and were trading around Rs 1,05,998. On the COMEX, silver contracts fell by $1.128 or 3.06% per troy ounce to trade around $35.78. Silver prices have retraced from its high, next support is Rs 105,300($35.50), said Chainani, adding that prices should sustain this support for the bull trend to continue. If this support is broken, the next downside level is Rs 104,000 ($34.50), he added. Also Read: Commodity Radar: MCX crude oil futures cross 200-DMA amid Israel-Iran tension. Can it breach this crucial resistance zone? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Economic Times
2 hours ago
- Business
- Economic Times
Gold price prediction: Meltdown as prices fall by Rs 600/10 gram amid profit booking. Can bulls stage a comeback?
Gold prices fell on Friday as the dollar strengthened amid US Fed's hawkish stance and cooling geopolitical tensions between Israel and Iran. Profit-booking also weighed on sentiment, with gold dropping on both MCX and COMEX. Tired of too many ads? Remove Ads Gold rate today Tired of too many ads? Remove Ads Technical triggers Silver price today Tired of too many ads? Remove Ads Gold prices fell on Friday as investors took refuge in the greenback amid growing tensions between Israel and Iran. Moreover, a status quo on the US interest rate has helped the dollar index (DXY) strengthen, reducing some appeal in the yellow metal. The domestic gold prices fell sharply taking cues from the international the MCX, the August Gold futures were trading at Rs 98,664, down by Rs 665 or 0.67% from the Thursday closing price. Meanwhile, gold contracts on the COMEX were hovering around $3,367.20 per troy ounce, plunging by $40.90 or 1.20%.The movement in gold rates are inversely related to the dollar movement. When the Federal Reserve cuts interest rates, the returns on dollar-denominated assets like the US treasury bonds or savings accounts become less attractive and hence global investors may move their money to countries with higher interest rates, reducing demand for on the action, Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services said that the breather this week was on profit-booking, after the U.S. Fed's hawkish comments on interest rates and easing geo-political risk Street awaits U.S. President Donald Trump's decision if the US will enter the Iran-Israel war in two weeks."On charts prices may find some resistance around Rs 99,300-99,650, while on the downside support is seen at Rs 98,000-97,650," Mer price of physical gold in Delhi-NCR market is still above the Rs 1 lakh mark. This includes a 3% GST Chainani, Head - Research at Augmont also sees profit-booking in gold after record highs of Rs 1,01,078 per 10 gram on the MCX."Precious metals have reversed as support from growing geopolitical tensions in the Middle East is offset by a stronger dollar overall and the possibility of fewer interest rate reductions from the US," Chainani said."Gold prices are consolidating around record-high levels in the range of Rs 99,000($3,360) and Rs 101,000 ($3,475).Despite the Fed's hawkish tone, ongoing geopolitical tensions between Iran and Israel continue to offer downside protection for gold, Jateen Trivedi, Vice President Research Analyst - Commodity and Currency, LKP Securities opines. "The broader trend remains range-bound to positive, with a key support level seen at $3,290, and strong resistance near $3,500 on Comex. Unless there is a clear resolution on geopolitical fronts or a shift in Fed commentary, gold is likely to stay buoyant within this broad band," he July silver futures plunged by Rs 1,395 or 1.3% and were trading around Rs 1,05,998. On the COMEX, silver contracts fell by $1.128 or 3.06% per troy ounce to trade around $ prices have retraced from its high, next support is Rs 105,300($35.50), said Chainani, adding that prices should sustain this support for the bull trend to continue. If this support is broken, the next downside level is Rs 104,000 ($34.50), he added.
Time of India
6 hours ago
- Business
- Time of India
Silver's breakout year: Why poor man's gold is outshining its richer cousin
Long dismissed as gold 's cheaper cousin, silver is now taking center stage in global metals markets. Prices have surged to fresh record highs, fuelled by a potent mix of bullish fundamentals, rising industrial demand, and growing strategic interest from institutions and even central banks. A sharp correction in the gold-silver ratio has further bolstered silver's appeal, prompting analysts to suggest this rally may be just getting started. Silver futures for July expiry hit a new all-time high of Rs 1,09,748 per kilogram on MCX on Wednesday, breaking Tuesday's record. The rally extended further in September contracts, which touched Rs 1,11,000 per kilogram. This marks a nearly 25% rise from silver's all-time low of Rs 88,050 per kg, underscoring the metal's spectacular reversal in fortunes. Globally, silver prices were steady around $36.72 per ounce on Thursday, holding close to the 13-year high of $37.40 per ounce reached earlier in the week. Though domestic prices cooled slightly on June 19 to Rs 1,08,300/kg, analysts attribute the dip to minor profit-booking by traders, not a weakening of trend. In sharp contrast, gold prices have softened over the last two sessions. Gold futures for August delivery slipped to Rs 99,329 per 10 grams on Wednesday, down 0.2%, even after breaching Rs 1 lakh per 10 grams for the first time earlier this month. The divergence has narrowed the gold-silver ratio, once above 100 in April and May, to about 91 now, further strengthening silver's case. What's driving the silver surge? At the heart of silver's breakout rally is a potent combination of rising industrial demand, structural supply deficits, and a macroeconomic backdrop that's favouring safe-haven assets. 'COMEX silver surged to a 13-year high of $37.40 per ounce, while MCX silver prices rallied to a record high of Rs 109,748/kg on Wednesday, driven by strong safe-haven demand amid escalating geopolitical tensions,' said Kaynat Chainwala, AVP-Commodity Research at Kotak Securities. Chainwala noted that silver's dual identity, as both an industrial commodity and a precious metal, makes it uniquely positioned. 'This allows it to benefit from heightened risk aversion as well as from long-term trends in renewable energy and technological advancement,' she said. According to Chainwala, silver's critical applications in solar energy, electronics, EVs, and 5G technology have driven demand to record levels. In 2024, industrial demand hit a new peak of 680.5 million ounces, while global mine supply has struggled to keep pace after peaking in 2016. Despite a modest 2% supply uptick and a projected 1% dip in total demand in 2025, the market is bracing for a steep deficit of 117.6 million ounces. The gold-silver ratio: Catalyst for a catch-up rally The sharp correction in the gold-silver ratio has also triggered aggressive positioning in silver. Historically, a high ratio indicates that silver is undervalued relative to gold, and reversion often leads to silver outperforming. 'The gold-silver ratio has rarely been this high historically and we are now seeing it start to correct. I believe it has a long way to go,' said Brad Smoling, Managing Director at Smoling Stockbroking. With gold currently at $3,411 an ounce and silver at $36, the ratio stands around 93. To return to the long-term average of 70, silver would need to climb to $48 per ounce, assuming gold prices remain unchanged. Smoling also pointed to long-standing structural issues in the silver market. 'The silver price has been suppressed by a concentrated short position held by a handful of bullion banks on the Comex exchange. This has been the case for decades,' he said. 'But we are now at the point where the physical shortfall in silver supply for the past five years is no longer controlled by the futures market. It is such a small market,' Smoling said. Millennials, institutions, and a changing investment narrative Silver's affordability compared to gold, especially at a time when gold trades above Rs 99,000 per 10 grams, is making it increasingly attractive to newer generations of investors. Analysts say millennials and Gen Z are driving a shift toward silver as both a tactical bet and a long-term play. 'Silver remains more affordable than gold, while also offering broader exposure to the booming green and tech-driven industrial sectors,' Chainwala said. Institutional interest is rising too, with ETF holdings up 2.2 million ounces in a single day last week. In a landmark development, Russia's plans to purchase $535 million worth of silver over the next three years marks the first known central bank entry into the silver market in recent history, signalling the metal's growing strategic importance. 'The biggest long-term issue now being realised is that so much silver has been consumed or destroyed, unlike gold, we will be struggling to meet global demands from this point on,' Smoling added. Cautious optimism: Profit-booking or just a pause? While silver eased slightly on Thursday, analysts say this is a natural breather. 'Taking partial profits at elevated levels is advisable to lock in gains while maintaining exposure to further upside,' said Chainwala. 'Long-term investors should view pullbacks as buying opportunities.' Chainwala forecasts silver could climb toward $40 per ounce this year, with a possible extension to $50 by the end of 2026. On the domestic front, MCX silver could test Rs 1,25,000 per kilogram, with support levels around Rs 1,01,300/kg over the next six months. Smoling, meanwhile, urged investors to be selective in their exposure. 'I advise my clients to consider some physical metal and good quality silver mining shares. I would avoid a lot of the ETFs and other paper silver investments.' With geopolitical tensions brewing, particularly in the Middle East, and the U.S. Federal Reserve maintaining a cautious stance on inflation and interest rates, silver is enjoying a rare alignment of factors that support both short-term rallies and long-term revaluation. Once a sidelined asset, silver is now being re-rated, not just as an industrial input or inflation hedge, but as a strategic investment that combines affordability, scarcity, and essential utility. And with both investors and institutions waking up to its promise, the silver story may just be entering its most consequential chapter yet. Also read | Explained: Why gold beat Euro to become the world's second-largest reserve asset ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News18
6 hours ago
- Business
- News18
Gold Prices Fall For 4th Day To Near One-Week Low: Check 22kt, 24kt Rates In Your City On June 20
Gold Rates In India Today, June 20, 2025: In Mumbai, the price of gold stood at Rs 92,100 per 10 grams for 22-carat and Rs 1,00,480 per 10 grams for 24-carat. Gold Prices In India Today, June 20: Gold prices on Friday continued to decline for the fourth day in a row as investors liquidated positions in bullion to cover losses elsewhere amid rising geopolitical tensions between Israel and Iran. The yellow metal prices are at a near one-week low and heading for their first weekly decline in three weeks. In Mumbai, the price of gold stood at Rs 92,100 per 10 grams for 22-carat and Rs 1,00,480 per 10 grams for 24-carat. Silver was also trading down at Rs 1,12,100 per kg in the city. These spot prices do not include making charges and 3% GST. In the futures market, on the MCX, gold was trading lower by 0.50% at Rs 98,837 per 10 grams, whereas silver was down by 1.41% to trade at 1,05,875 per kg. Rahul Kalantri, vice-president (commodities) of Mehta Equities, said, 'Gold and silver prices slid from recent highs, nearing one-week lows and heading for their first weekly decline in three weeks. Silver prices fell below $35.70 per ounce after a sharp rally earlier in the week. The decline came as investors liquidated positions in bullion to cover losses elsewhere amid rising geopolitical tensions between Israel and Iran." The Bank of England also held rates steady in its monetary policy meetings on Thursday which also limited gains of precious metals. However, escalation of the Israel-Iran war and weaker dollar index are supporting safe-haven buying for precious metals. Weakness in the rupee is also supporting prices of gold and silver in the domestic markets, he added.
