Gold rates continue to remain volatile today (Friday, May 15, 2026) amid changes in global bullion trends and domestic demand. Gold prices witnessed a decline on May 15, 2026, with rates falling across major jewellery brands and IBJA after rising sharply two days ago. The latest rates issued by the India Bullion and Jewellers Association (IBJA) also indicated a decline in both gold and silver prices compared to the previous session.
Kaynat Chainwala, AVP Commodity Research, Kotak Securities says, "Gold and silver remained under pressure today, weighed down by a hawkish macro repricing increasingly traced to the US-Iran conflict. Spot gold traded near $4,570 per ounce, around 4% below its recent high of $4,773, while silver tumbled roughly 6% to $78, about 13% off its recent $89.30 peak, as hotter-than-expected inflation data and a firmer dollar stripped momentum from both metals. The catalyst was a bruising week of US price data: consumer inflation rose to 3.8% in April, the highest since May 2023, while wholesale prices accelerated at their fastest pace since 2022, both prints driven substantially by energy costs flowing from Hormuz supply disruptions. Markets have now priced out Fed rate cuts entirely, assigning instead a one-in-three probability of a hike by December. It is the rate and dollar implications of that inflation, not the inflation itself, that the market is trading, with higher real yields and a stronger dollar capping the non-yielding metal’s upside. India’s decision to raise import tariffs on gold and silver from 6% to 15% added a further demand headwind, threatening to curtail one of the market’s most reliable physical-buying cushions."
