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Silver plunges Rs 11,700 and gold drops Rs 1,600 as Iran tension revives inflation fears
Economy
Published on 15 May 2026
Energy prices pushed bullion down again
Gold and silver opened sharply lower on MCX as surging energy prices revived inflation worries and strengthened expectations of higher rates staying elevated. Investors also looked to the Trump Xi summit in Beijing, with U.S. China trade truce and Middle East geopolitics expected to be discussed. MCX silver futures fell Rs 11,700 to Rs 2,79,458 per kg, while gold futures dropped Rs 1,600 to Rs 1,60,355 per 10 grams. Spot gold and silver slid internationally, with spot gold at its weakest since May 6.
- MCX silver July 2026 fell Rs 11,700 to Rs 2,79,458 per kg
- MCX gold June 2026 dropped Rs 1,600 to Rs 1,60,355 per 10 grams
- Higher crude lifted inflation fears, supporting higher-for-longer rate expectations
- Spot gold fell 0.8% to $4,613.19 per ounce, lowest since May 6
- Spot silver slid 3.1% to $80.93 per ounce as dollar and yields firmed
- Traders watch Trump Xi Beijing meetings for trade and geopolitical signals
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times