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- Gold, Silver Rate Highlights: MCX Gold, MCX Silver prices drop; gold set for weekly decline in international markets
THE TIMES OF INDIA | May 15, 2026, 23:28:38 IST
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Gold, Silver Rate Highlights: MCX Gold, MCX Silver prices drop; gold set for weekly decline in international markets
Gold, Silver Rate Today Live Updates: Gold and silver prices in the domestic market are expected to remain range-bound after the government’s move to hike import duties from 6% to 15% in a bid to discourage imports of gold to preserve forex reserves for more pressing needs such as crude oil.
A day after sharply raising import duties on precious metals, the government on Thursday capped gold imports under the Advance Authorisation scheme at 100 kilograms. The scheme enables jewellery exporters to bring in raw materials and inputs without paying import duty.
Authorities have also tightened the rules governing the issuance and supervision of Advance Authorisations for gold imports. Previously, there was no upper limit on the quantity of gold that could be imported through this route.
A day after sharply raising import duties on precious metals, the government on Thursday capped gold imports under the Advance Authorisation scheme at 100 kilograms. The scheme enables jewellery exporters to bring in raw materials and inputs without paying import duty.
Authorities have also tightened the rules governing the issuance and supervision of Advance Authorisations for gold imports. Previously, there was no upper limit on the quantity of gold that could be imported through this route.
LIVE RATES · INDIA
11:33:01 pm
20:27 (IST) May 15
Gold at over one-week low as dollar, yields climb, Middle East tensions stoke inflation
Gold fell to a more than one-week low on Friday, as U.S. Treasury yields and the dollar climbed, while heightening inflation concerns due to the conflict in the Middle East reinforced bets for higher interest rates.
Spot gold was down 2.6% at $4,527.80 per ounce by 9:40 a.m. EDT (1340 GMT), its lowest since May 5. Prices were down 4% so far this week.
US gold futures for June delivery lost 3.2% to $4,535.
18:06 (IST) May 15
Silver Rate Today Live: MCX Silver futures fall 5.56%, all major contracts trade lower
MCX silver futures traded sharply lower on May 15, with the July 2026 contract falling Rs 16,199, or 5.56%, to Rs 2,74,903 per kg as of 6:00 pm. The contract opened at Rs 2,80,000, touched a high of Rs 2,83,219 and a low of Rs 2,70,380 during the session. The September 2026 silver futures contract declined Rs 16,049, or 5.37%, to Rs 2,82,674 per kg, while the December 2026 contract fell Rs 14,083, or 4.54%, to Rs 2,96,007 per kg.
16:37 (IST) May 15
Gold Rate Today: Stronger dollar, higher crude hits prices
“Gold prices felt the heat as MCX Gold corrected sharply by nearly ₹3,000 to ₹1,59,070, pressured by a rise in crude oil prices and a stronger dollar index, which weighed on bullion sentiment. Profit booking also emerged after the steep rally and elevated levels witnessed in recent sessions. For the short term, gold support is seen near ₹1,54,000 while resistance remains around ₹1,62,000. Markets will closely track updates from the US-China meeting, Trump’s policy stance after returning to the US, and ongoing geopolitical tensions involving the US, Israel, and Iran,” says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.
15:36 (IST) May 15
Gold Rate Today: Gold tumbles as multiple bearish factors align
Spot gold, currently down by 2% to $4558, is extending its decline to the fourth straight day on surging yields, India's demand concerns, a firmer Dollar and higher oil prices.
India, to curb import-led Dollar outfllows, has tightened gold import rules further.Bullion imports of a maximum limit of 100 kilograms will be subject to advance authorization, and subsequent imports would be issued only after 50% is exported. Earlier, jewelery exporters were allowed to import an unlimited quantity of gold.
Reflecting higher than usual tax refunds and rallying US markets aiding US consumers' resilience, US retail sales rose for the third straight month in April. The retail purchases increased 0.5% last month following a revised 1.6% gain in March. Control-group sales rose 0.5% Vs the estimate of 0.4%,a fourth straight month gain as prior data was revised higher from 0.7% to 0.8%. Weekly job report was somewhat weaker-than-expected but data remained mired around cycle lows only.
In a somewhat supportive development for the yellow metal, China's President Xi Jinping warned Donald Trump that Taiwan could lead to "clashes" between the superpowers, calling it a "highly dangerous situation" for the world's biggest economies. However, Trump and Xi Summit, was mostly positive. Trump hopes to focus talks on trade and deals for China to buy more agricultural products and passenger planes.
Gold is expected to remain under pressure as ten-year US yields have surged past the crucial level of 4.5%.
Bears eye the test of support at $4500/$4480. Resistance is at $4603/$4638/$4670, says Praveen Singh, Head of commodities at Mirae Asset ShareKhan.
India, to curb import-led Dollar outfllows, has tightened gold import rules further.Bullion imports of a maximum limit of 100 kilograms will be subject to advance authorization, and subsequent imports would be issued only after 50% is exported. Earlier, jewelery exporters were allowed to import an unlimited quantity of gold.
Reflecting higher than usual tax refunds and rallying US markets aiding US consumers' resilience, US retail sales rose for the third straight month in April. The retail purchases increased 0.5% last month following a revised 1.6% gain in March. Control-group sales rose 0.5% Vs the estimate of 0.4%,a fourth straight month gain as prior data was revised higher from 0.7% to 0.8%. Weekly job report was somewhat weaker-than-expected but data remained mired around cycle lows only.
In a somewhat supportive development for the yellow metal, China's President Xi Jinping warned Donald Trump that Taiwan could lead to "clashes" between the superpowers, calling it a "highly dangerous situation" for the world's biggest economies. However, Trump and Xi Summit, was mostly positive. Trump hopes to focus talks on trade and deals for China to buy more agricultural products and passenger planes.
Gold is expected to remain under pressure as ten-year US yields have surged past the crucial level of 4.5%.
Bears eye the test of support at $4500/$4480. Resistance is at $4603/$4638/$4670, says Praveen Singh, Head of commodities at Mirae Asset ShareKhan.
14:36 (IST) May 15
Gold Rate Today: Chennai opening bullion rates on Friday
1 Gm Gold 22 Kt: Rs 14,950.00
1 Gm Gold 18 Kt: Rs 12,470.00
1 Gm Silver: Rs 305.00 PT
1 Gm Gold 18 Kt: Rs 12,470.00
1 Gm Silver: Rs 305.00 PT
12:40 (IST) May 15
Gold Rate Today: MCX Gold futures drop 2%
MCX gold futures witnessed a sharp decline on Friday, with prices falling by Rs 2,880 to Rs 1.59 lakh per 10 grams, as investor sentiment weakened due to the strengthening US dollar, elevated crude oil prices and receding hopes of interest rate reductions by the Federal Reserve.
On the Multi Commodity Exchange of India, gold contracts for June delivery dropped Rs 2,880, or 1.78%, to Rs 1,59,098 per 10 grams.
On the Multi Commodity Exchange of India, gold contracts for June delivery dropped Rs 2,880, or 1.78%, to Rs 1,59,098 per 10 grams.
11:39 (IST) May 15
Gold Rate Today: Factors influencing gold prices today
Gold prices edged lower as rising oil prices, a stronger dollar and US Yields, weighed on sentiment following reports of a vessel seizure and another ship sinking. Investors remained focused on US President Trump meeting Chinese President Xi Jinping in Beijing.
Expectations for US interest rate cuts have largely diminished, according to CME Group's FedWatch tool, after sharp energy-driven increases in April producer and consumer inflation. Benchmark 10-year US Treasury yields climbed close to one-year highs, raising the opportunity cost of holding non-yielding assets such as gold.
A series of inflation reports released this week highlighted the risk that higher energy prices could spread into broader goods and services inflation, further reducing hopes for near-term Federal Reserve rate cuts. On the geopolitical front, Trump and Xi were set to conclude a two-day state visit marked by business agreements and ceremonial events, though Xi also warned that mishandling the Taiwan issue could severely damage bilateral relations.
Markets also reacted to India's decision to raise gold and silver import duties to nearly 15% from around 6%, a move aimed at reducing bullion imports and supporting forex reserves, but one that could hurt jewelry demand in one of the world's largest consuming nations. Along with this Government has also imposed restrictions on Gold with a quantity limit of 100kgs, one more policy aimed to control the deficit and reserves also impacting demand and weighing on prices. Focus today will be on US Industrial Production, says Manav Modi Commodities Analyst Motilal Oswal Financial Services Ltd.
10:22 (IST) May 15
Gold Rate Today: How to trade gold?
Manoj Kumar Jain told ET that gold and silver are likely to witness heightened volatility during today’s trade as markets react to movements in the dollar index and developments emerging from the summit between the US and Chinese Presidents.
According to him, gold is expected to find support in the $4,634-$4,600 per troy ounce range, while resistance is seen between $4,722 and $4,770. For silver, support levels are placed at $83.00-$80.00 per troy ounce, whereas resistance is likely around $87.70-$90.00.
On the MCX, Jain identified support for gold at Rs 1,60,300-1,59,100 and resistance in the Rs 1,63,200-1,64,400 zone. Silver, meanwhile, has support at Rs 2,85,500-2,78,800, while resistance is expected between Rs 2,96,600 and Rs 3,02,000.
He further advised investors to refrain from initiating fresh buying positions in gold and silver at current levels until there is greater clarity on the outcome of the meeting between Donald Trump and Xi Jinping.
According to him, gold is expected to find support in the $4,634-$4,600 per troy ounce range, while resistance is seen between $4,722 and $4,770. For silver, support levels are placed at $83.00-$80.00 per troy ounce, whereas resistance is likely around $87.70-$90.00.
On the MCX, Jain identified support for gold at Rs 1,60,300-1,59,100 and resistance in the Rs 1,63,200-1,64,400 zone. Silver, meanwhile, has support at Rs 2,85,500-2,78,800, while resistance is expected between Rs 2,96,600 and Rs 3,02,000.
He further advised investors to refrain from initiating fresh buying positions in gold and silver at current levels until there is greater clarity on the outcome of the meeting between Donald Trump and Xi Jinping.
09:32 (IST) May 15
Gold Rate Today: MCX Gold, MCX Silver prices plunge
Gold and silver prices witnessed a steep decline at the opening on the Multi Commodity Exchange (MCX) on Friday as surging energy prices reignited inflation concerns and reinforced expectations that interest rates may remain higher for a prolonged period. Investors were also keeping a close watch on discussions between Donald Trump and Xi Jinping.
In the domestic futures market, MCX silver contracts for July 2026 delivery fell by Rs 11,700, or 4%, to Rs 2,79,458 per kilogram. Gold futures for June 2026 delivery declined by Rs 1,600, or nearly 1%, to Rs 1,60,355 per 10 grams. During the previous trading session, both gold and silver had ended largely unchanged.
Sentiment in the bullion market remained weak as higher crude oil prices revived worries over inflation, pushing up both bond yields and the US dollar. The stronger dollar and rising yields reduced hopes of near-term interest rate cuts, putting additional pressure on gold prices.
In the domestic futures market, MCX silver contracts for July 2026 delivery fell by Rs 11,700, or 4%, to Rs 2,79,458 per kilogram. Gold futures for June 2026 delivery declined by Rs 1,600, or nearly 1%, to Rs 1,60,355 per 10 grams. During the previous trading session, both gold and silver had ended largely unchanged.
Sentiment in the bullion market remained weak as higher crude oil prices revived worries over inflation, pushing up both bond yields and the US dollar. The stronger dollar and rising yields reduced hopes of near-term interest rate cuts, putting additional pressure on gold prices.
08:09 (IST) May 15
Gold Rate Today: Gold prices on Thursday in domestic market
“Gold prices posted moderate gains in the domestic market, aided by supportive trends in international markets and the persistent weakness in the Indian rupee. However, gains remained capped as elevated prices dampened physical demand and restrained broader buying activity,” said Saumil Gandhi.
He further noted that the recent increase in import duties led to a sharp rise in domestic gold prices, prompting investors to book profits and postpone fresh purchases, which added to the weakness already visible in physical demand.
“As a consequence, discounts in India’s gold market widened significantly, with spot market discounts surging to an all-time high of over USD 200 per ounce,” Gandhi added.
He further noted that the recent increase in import duties led to a sharp rise in domestic gold prices, prompting investors to book profits and postpone fresh purchases, which added to the weakness already visible in physical demand.
“As a consequence, discounts in India’s gold market widened significantly, with spot market discounts surging to an all-time high of over USD 200 per ounce,” Gandhi added.
08:09 (IST) May 15
Gold Rate Today: Gold imports
India, the world’s second-largest consumer of gold after China, largely imports the precious metal to meet demand from the jewellery sector. These purchases result in a significant outflow of foreign exchange.
Under the duty revisions announced on Wednesday, the government doubled the basic customs duty on gold to 10%, while the agriculture infrastructure and development cess (AIDC) was increased five times from 1% to 5%. As a result, the effective import duty on both gold and silver now stands at 15%.
In addition, importers are required to pay a 3% Integrated GST (IGST), pushing the overall tax incidence to 18.45%, compared with 9.18% earlier.
India’s gold imports climbed more than 24% in 2025-26 to touch a record USD 71.98 billion. However, in terms of quantity, imports declined 4.76% during the year to 721.03 tonnes.
Under the duty revisions announced on Wednesday, the government doubled the basic customs duty on gold to 10%, while the agriculture infrastructure and development cess (AIDC) was increased five times from 1% to 5%. As a result, the effective import duty on both gold and silver now stands at 15%.
In addition, importers are required to pay a 3% Integrated GST (IGST), pushing the overall tax incidence to 18.45%, compared with 9.18% earlier.
India’s gold imports climbed more than 24% in 2025-26 to touch a record USD 71.98 billion. However, in terms of quantity, imports declined 4.76% during the year to 721.03 tonnes.
08:07 (IST) May 15
Gold Rate Today: Dollar strengthens
The dollar has strengthened by more than 1% this week, making dollar-priced bullion more expensive for buyers using other currencies.
Brent crude prices have climbed around 5% this week and remained above the $106-a-barrel mark as the Iran conflict continued, keeping the crucial Strait of Hormuz largely blocked.
Brent crude prices have climbed around 5% this week and remained above the $106-a-barrel mark as the Iran conflict continued, keeping the crucial Strait of Hormuz largely blocked.
08:07 (IST) May 15
Gold Rate Today: Spot gold drops
Spot gold dropped 0.6% to $4,619.49 per ounce by 0045 GMT. The precious metal has declined 1.9% so far this week
US gold futures for June delivery fell 1.3% to $4,625.70.
US gold futures for June delivery fell 1.3% to $4,625.70.
08:07 (IST) May 15
Gold Rate Today: Gold set for weekly decline
Gold prices slipped to their lowest level in more than a week on Friday and were headed for a weekly loss as surging energy prices intensified inflation concerns and strengthened expectations of higher interest rates remaining in place for longer. Investors were also closely monitoring talks between Donald Trump and Xi Jinping.
Gold, Silver Rate Today Live Updates: The Advance Authorisation scheme for gold permits duty-free imports of inputs used in the manufacture of export products. Apart from raw materials, it also covers packaging material, fuel, oil and catalysts consumed during the production process. The move to cap gold imports under it is important since the aim is to discourage gold buying.
In a public notice, the Directorate General of Foreign Trade stated that Advance Authorisation for gold imports “shall be issued subject to a maximum permissible quantity of 100 kilograms.”
The notification further said that first-time applicants seeking Advance Authorisation will now be subject to mandatory physical inspection of their manufacturing facilities. The verification process will assess the existence of the unit, along with its production capacity and operational status.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
In a public notice, the Directorate General of Foreign Trade stated that Advance Authorisation for gold imports “shall be issued subject to a maximum permissible quantity of 100 kilograms.”
The notification further said that first-time applicants seeking Advance Authorisation will now be subject to mandatory physical inspection of their manufacturing facilities. The verification process will assess the existence of the unit, along with its production capacity and operational status.
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
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