Rates of precious metals in futures are under pressure on Friday, May 15, 2026, amid profit booking and elevated US bond yields. The gold June 5 contract on the Multi Commodity Exchange (MCX) opened with a drop of Rs 1,188 or 0.73 per cent at Rs 1,60,790 per 10 grams against the previous close of Rs 1,61,978. It continued the downward trend to touch an intraday low of Rs 1,58,851, a drop of Rs 3,127 or 1.93 per cent. Last seen, it was trading at Rs 1,59,370, down Rs 2,608 or 1.61 per cent. In between, it touched the intraday high of Rs 1,60,992.
On the MCX, the yellow metal futures for August 2026 were down by Rs 2,659 per cent to trade at Rs 1,63,738 per 10 grams in business turnover of 2,920 lots.
Silver Price On MCX
Similarly, the silver futures, maturing on July 3, 2026, opened lower. It started the trading session at Rs 2,80,000 against the previous close of Rs 2,91,102, a drop of Rs 11,102 or 3.81 per cent. It later declined to touch the low of Rs 2,72,267, a drop of Rs 18,835 or 6.47 per cent.
Gold Price in the International Market
In the international market, the COMEX gold price dropped by 2.51 per cent to approximately USD 4,567.5 per troy ounce. The spot gold price at 11.40 am was USD 4,568.83 per ounce, down by USD 2.32 or 0.06 per cent.
Key levels to watch
“Immediate resistance stands at Rs 1,61,000–Rs 1,61,800; a sustained move above this zone could reconfirm bullish pressure and push prices toward Rs 1,62,500– Rs 1,63,000. On the downside, Rs 1,59,700–Rs 1,59,000 acts as immediate support, with further weakness likely to extend toward Rs 1,58,500,” said Ponmudi R, CEO of Enrich Money.
What’s behind the fall?
The fall can be attributed to profit booking after the recent rise in precious metals prices, following the government’s increase in the import duty on gold from six per cent to 15 per cent.
Moreover, weak global sentiment, elevated US bond yields, and a stronger dollar weighed on bullion sentiment.
ALSO READ | NPS Sanchay Yojana: Where and how to open NPS account, benefits and other details
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
