BSE and NSE markets will remain closed on June 26 for Muharram 2026, halting equity, derivatives, and currency trade until Monday, June 29. The Multi-Commodity Exchange (MCX) will observe a partial closure, remaining shut during its morning session from 9 am to 5 pm, but will reopen for its evening session from 5 pm to 11:30/11:55 pm. According to reports from Upstox, banks across most Indian cities will also remain closed on June 26, with the exception of select state capitals, including Ahmedabad, Bhubaneswar, Chandigarh, and a few others. NCDEX is closed for the entire day on Friday, June 26. As per Mint, the price of gold in India's retail market continued to fluctuate in a range on Thursday, 25 June, with both 24-karat and 22-karat gold rates showing marginal declines across major cities. MCX gold rate for August futures contracts closed 0.16% higher at ₹143,550 per 10 grams on 25 June, while MCX silver futures closed about 0.11% higher at ₹222,070 per kg. However, MCX gold futures witnessed sharp declines today, with August 2026 contracts dropping ₹5,863 to ₹1,40,666 per 10 grams and silver futures falling ₹15,526 to ₹2,10,308 per kg over the past two sessions.
Gold futures with August expiry on MCX fell ₹617 per 10 grams or 0.4% to ₹1,43,545 per 10 grams on Monday, with futures contracts with October and December expiries declining up to 0.4%. Silver futures with September expiry meanwhile fell ₹518 per kg to ₹2,22,954, while contracts with July and December expiries fell up to 0.3%. As reported by The Economic Times, gold and silver prices were largely unchanged on the Multi Commodity Exchange (MCX) on Monday, despite renewed tensions in the Middle East raising concerns over the fragility of the Iran-US ceasefire. Gold futures witnessed sharp declines today, with August 2026 contracts dropping ₹5,863 to ₹1,40,666 per 10 grams and silver futures falling ₹15,526 to ₹2,10,308 per kg over the past two sessions.
International gold prices have fallen to their lowest level in almost eight months, with spot gold currently trading at $4,061.35 per ounce, down 0.7% for the day after a steep decline. The precious metal fell below the $4,000 mark for the first time since November 2025, marking a significant milestone in the current correction. US gold futures for August delivery lost 0.5% to $4,076.40, with the metal headed for a fourth consecutive monthly loss of 10.4%. Gold has now fallen more than $1,500 an ounce from its record peak of $5,594.82 reached in late January, representing a decline of over 28% from its all-time high. According to Mirae Asset ShareKhan, the metal is trading over 28% below its record peak as the US Dollar Index, after rising for six consecutive days, is slightly down from the highest level in more than a year as the Index consolidates its gains. Gold is down 7.5% year-to-date as Fed rate hike worries weigh heavily on the non-interest paying commodity.
Iran's Revolutionary Guards said that they were taking measures to control traffic in the critical waterway and that vessels in violation of those measures would be dealt with more firmly than before, as reported by The Economic Times. Iran's Revolutionary Guards said they were taking measures to control traffic in the critical waterway and that vessels in violation of those measures would be dealt with more firmly than before. Israel meanwhile launched strikes in Lebanon as Hezbollah's leader Naim Qassem rejected a deal to end that conflict. Oil prices inched up after US and Iran's tit-for-tat strikes over the weekend marked the worst escalation since the US and Iran signed an interim peace deal, with the drop in precious metals coming as oil prices inched up after US and Iran's tit-for-tat strikes over the weekend marked the worst escalation since the US and Iran signed an interim peace deal. U.S. and Iran were at it again over the weekend, with fresh military strikes reported from both parties, which casts further doubt over how long oil can stay at these subdued levels and therefore over the broader inflation and interest rate outlook.
Market participants are now factoring in three interest rate increases by the Federal Reserve this year, with the likelihood of a September hike estimated at around 67% according to CME FedWatch Tool data. The US Dollar Index climbed to a 13-month high, making gold more expensive for holders of other currencies and reducing its appeal in international markets. Some Chinese banks are shutting down services that aid retail trading as the multiyear rally in gold has undergone a sharp reversal. SoftBank Group plunged more than 12% on Friday, leading a broad selloff in Asian technology stocks amid mounting concerns about the rising cost of artificial intelligence infrastructure. The Japanese conglomerate led losses across the region after the Nasdaq Composite fell for a fourth straight session overnight, with the tech-heavy index dropping 0.46% as a 6% plunge in Apple overshadowed Micron's stronger-than-expected earnings.
