Gold and Silver Futures Extend Decline for Third Day; MCX Trading Hit by Technical Glitch

New Delhi, October 28, 2025 – Gold and silver futures extended their decline for a third straight session on Tuesday, although trading on Multi Commodity Exchange (MCX) started late due to a major technical glitch.

The exchange announced that trading activity had been moved to the Disaster Recovery (DR) site due to an early session technical failure of trading. “Trading began at 1:25 pm and all systems are working normally,” MCX stated.

Gold Contracts Drop Sharply

On the MCX, the December 2025 gold futures dropped ₹2,214 or 1.83% to ₹1,18,743 per 10 grams with an ongoing turnover of 13,086 lots. The February 2026 contract declined ₹2,650 or 2.17% to ₹1,19,649 per 10 grams across 1,953 lots. Gold prices are now down ₹13,794 per 10 grams (10.43%) since hitting a record of ₹1,32,294 on October 17.

Silver Futures Also Under Pressure

Silver futures for December fell ₹2,181 or 1.52% to ₹1,41,186 per kg, and the March 2026 contract fell by ₹2,289 or 1.58% to ₹1,42,757 per kg. From its level of ₹1,70,415 per kg on October 17, silver is now lower by ₹29,874 per kg or 17.53%, which indicates continued weakness for precious metals sentiment.

Global Trends Mirror Domestic Fall

Internationally, Comex gold futures for December delivery declined USD 98.06 or 2.44%toUSD 3,921.64 per ounce, marking the third straight day of losses. Comex silver for December delivery traded 2.34% lower at USD 45.68 per ounce.

The decline followed easing safe-haven demand after progress in US–China trade negotiations, with both nations announcing a framework agreement on tariffs and key economic issues during talks in Malaysia.

Investors now await the US Federal Reserve’s upcoming policy decision, where markets are pricing in a likely 25-basis-point rate cut following weaker inflation data last week. Overall, sentiment in the bullion market remains cautious amid global economic developments and technical disruptions in domestic trading activity.

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