Trading activities on the Multi Commodity Exchange (MCX) faced disruptions on Tuesday morning due to a technical glitch that caused a delay in the opening bell, impacting gold and silver futures contracts. Throughout the morning, MCX provided updates indicating that the issue was being resolved, with trading set to commence from its Disaster Recovery (DR) site. However, a specific start time was not mentioned.
An official statement from MCX at 12:35 PM confirmed the delay in trading commencement due to the technical problem. The exchange assured market participants that trading would begin from the DR site, with the fresh start time to be communicated later.
Previously, MCX had adjusted the trading start time several times, initially setting it for 9:30 AM, then rescheduling to 10:00 AM and finally 10:30 AM before ultimately announcing an indefinite delay.
This is not the first instance of MCX experiencing trading disruptions. In July 2025, a similar technical issue led to a delay in market opening by more than an hour, with trading eventually commencing around 10:17 AM. Additionally, in February of the previous year, a significant outage related to transitioning to a new trading platform had caused a four-hour suspension of operations.
Before the delay on Tuesday, precious metals had already been facing downward pressure. The closure of December gold and silver futures on Monday showed a notable decrease. This decline was influenced by improving trade relations between the US and China, reducing the safe-haven appeal of precious metals. Anticipation of a trade agreement between the two countries further dampened investor interest in gold and silver.
Despite these factors, global gold prices saw a slight recovery early on Tuesday, supported by a weakening dollar and expectations of additional rate cuts by the US Federal Reserve.