Commodity Market Updates, September 25: Crude oil, Gold futures fall; Copper hits record high

Here is how different commodity futures were trading on September 25.

Gold futures

Gold prices eased by ₹125 to ₹1,12,430 per 10 grams in the domestic futures market on Thursday, September 25, tracking a flat trend overseas as traders stayed cautious ahead of key US inflation data.

On the Multi-Commodity Exchange (MCX), the yellow metal futures for October delivery fell ₹125 or 0.11% to ₹1,12,430 per 10 grams in a business turnover of 6,314 lots.

The December contract also shed ₹147 or 0.13% to ₹1,13,500 per 10 grams in 11,823 lots.

Globally, gold futures were trading flat at $3,768.50 per ounce.

Analysts said gold was trading flat near the $3,750 level as expectations that the US central bank would cut rates twice this year limited the dollar's rally to a two-week high, lending some support to bullion.

Silver futures

On the MCX, silver futures for the December contract rose ₹124 or 0.09% to ₹1,34,126 per kilogram in 17,121 lots. Its March 2026 contract climbed ₹147 or 0.11% to ₹1,35,563 per kg.

In the international market, silver futures were trading flat at $44.19 per ounce.

Copper futures

On the MCX, copper contracts for October delivery rose ₹17.7 or 1.87% to hit a record high of ₹963.45 per kg.

Similarly, the November contract for red metal futures increased by ₹17.2 or 1.81% to hit an all-time high of ₹967.05 per kg.

On Wednesday, Freeport-McMoRan declared force majeure, meaning it would be unable to fulfil contracts to customers from its copper mine in Indonesia due to forces beyond its control.

Earlier this month, mining company Freeport said operations at its Grasberg mine were halted after a fatal mudslide.

Grasberg, which is jointly owned by Freeport and the Indonesian government, accounts for around 3% of global copper supply this year (before the disruptions).

Aluminium futures

Aluminium prices surged 65 paise to ₹257.25 per kilogram in futures trade as speculators built up fresh positions amid a positive trend in the spot market.

On the MCX, aluminium for delivery in October increased 65 paise or 0.25% to ₹257.25 per kg in 3,439 lots.

Analysts said fresh positions created by traders amid demand from consuming industries supported aluminium prices in the futures market.

Zinc futures

Zinc prices increased by ₹2.70 to ₹287.75 per kilogram in futures trade amid a pick-up in spot demand.

On the MCX, zinc contracts for October delivery traded higher by ₹2.70 or 0.95% at ₹287.75 per kilogram, with a business turnover of 3,080 lots.

Marketmen said the widening of positions by participants, following a pick-up in demand from consuming industries, kept zinc prices higher in the futures trade.

Crude oil futures

Crude oil futures declined by ₹46 to ₹5,730 per barrel, as participants trimmed their positions amid weak demand in the spot market.

On the MCX, crude oil for October delivery fell ₹46 or 0.8% to ₹5,730 per barrel in 10,671 lots.

Analysts said the prices were affected after participants offloaded their holdings amid weak demand in the spot market.

Globally, however, West Texas Intermediate crude oil was trading 0.82% lower at $64.46 per barrel, while Brent Crude fell 0.74% to $68.80 per barrel in New York.