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Gold slips toward weekly loss as oil inflates fears and traders track Trump Xi summit
Economy
Published on 15 May 2026
Oil pushing inflation fears is dragging gold
Gold prices slid to a more-than-one-week low and were on track for a weekly decline as surging energy costs reignited inflation worries and raised the prospect of higher-for-longer interest rates. Traders also kept a close watch on the Trump Xi meeting, while the Fed signaled no near-term policy change. With the dollar firming, the pressure intensified. Meanwhile, India is set to restrict gold imports to 100 kilograms under an advance authorization scheme.
- Spot gold fell 0.6% to $4,619.49 per ounce
- Bullion is down about 1.9% for the week so far
- U.S. gold futures for June fell 1.3% to $4,625.70
- Brent crude is up roughly 5% above $106 a barrel
- India will limit gold imports to 100 kg under advance authorization
- Fed of New York chief sees no immediate need to change rates
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times