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Silver crashes nearly ₹12,000/kg
15 May 2026

Gold and silver prices opened sharply lower on the Multi Commodity Exchange (MCX) today. The decline comes amid rising energy prices fueling inflation concerns and expectations of prolonged high interest rates.

Domestic bullion saw a sharp pullback on the MCX. July silver futures dropped 4% or ₹11,700 to ₹2,79,458 per kg, while June gold futures shed 1% or ₹1,600 to trade at ₹1,60,355 per 10 grams.

Gold, silver futures in international market
Global impact

In international trading, spot gold retreated for a fourth consecutive session, shedding 0.8% to hit a nine-day low of $4,613.19 per ounce. The metal is down 2.1% on the week.

Other precious metals followed the downward trend: silver tumbled 3.1% to $80.93, while platinum and palladium declined 1.7% and 0.9%, respectively.

Why gold and silver prices are on a decline
Price details

Gold sentiment remains strained as a surge in crude oil prices reignites inflation concerns, lifting both bond yields and the US dollar.

This shift has dampened hopes for imminent rate cuts, putting downward pressure on bullion.

Consequently, analysts recommend a "wait-and-see" approach, advising against new positions in gold or silver ahead of the high-stakes meeting between the US and Chinese presidents.