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The Indian commodity market today closed on a mixed but overall bullish note, according to data from the Multi Commodity Exchange (MCX) on October 30, 2025.
While the flagship MCX iCOMDEX Composite index managed to post a modest gain of 0.53%, this performance masked a significant divergence, as strong momentum in the Bullion and Natural Gas sectors offset weakness seen across base metals.
The market mood was strongly influenced by massive gains in the energy prices complex and safe-haven buying driving the silver rate.
Natural Gas and Silver Lead the Charge
The most pronounced bullish action came from the energy prices sector, specifically Natural Gas, which saw the MCX iCOMDEX Natural Gas index surge by 2.04%. This strong performance was reflected in the futures segment, where Natural Gas was the top gainer.
According to MCX, the Natural Gas contract for November 2025 expiry posted a gain of 1.77%, while the Natural Gas mini contract also rose by 1.71%. Spot prices for both Natural Gas and Natural Gas mini were also trending upwards.
Precious metals also enjoyed a robust session, contributing significantly to the overall Bullion index gains. The MCX iCOMDEX Bullion index rose by 1.02%, primarily driven by a sharp rise in the MCX iCOMDEX Silver index, which jumped 1.81%.
The strong upward movement of commodity market today in the silver rate was evident across all key contracts. The Silver mini contract (November expiry) saw a percentage change gain of 1.58%, with the full Silver contract (December expiry) increasing by 1.55%.
The Silver micro contract also saw a 1.54% hike. This renewed interest in silver coincided with spot price increases for Silver, Silver mini, and Silver micro in the Ahmedabad location.
While specific gold price data was not highlighted among the top moversof commodity market today , the strong performance of the broader bullion indices suggests supportive buying interest.
Base Metals Face Industrial Headwinds
In sharp contrast to the soaring precious metals and energy sectors, the base metals complex showed considerable weakness, suggesting potential concerns regarding industrial demand and international markets.
The MCX iCOMDEX Base Metal index declined by 0.67%, a bearish trend exacerbated by a steep drop in Nickel prices.
Nickel emerged as the top loser of the session, according to MCX data, with the November 2025 contract plummeting by 1.68%. Nickel spot prices in Thane also registered a decline.
Aluminium contracts also faced selling pressure, reflecting the broad weakness in industrial metals.
The Aluminium mini contract lost 0.95%, and the main Aluminium contract fell by 0.86%. Furthermore, spot prices for Zinc, Zinc mini, and Steelrebar also moved lower, reinforcing the bearish outlook for industrial commodities.
The commodity market today’s trading performance indicates a clear split in investor sentiment. The strong uplift in Natural Gas and Silver suggests either rising inflationary concerns or heightened geopolitical uncertainty fueling safe-haven demand.
Conversely, the steep decline in base metals like Nickel and Aluminium suggests that industrial consumption outlook or global economic cues remain subdued, potentially limiting broader index gains.
Analysts suggest that while the strength in the Bullion index is compelling, the weakness across industrial commodities indicates that traders should remain cautious of market fragmentation in the near term.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
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