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(15/05/2026 13:10)

Gold futures drop nearly 2% as strong dollar weighs on demand

Gold prices declined by Rs 2,880 to Rs 1.59 lakh per 10 grams in futures trade on Friday as a strong US dollar, elevated crude oil prices and reduced expectations of interest rate cuts by the US Federal Reserve dampened investor sentiment.

On the Multi Commodity Exchange (MCX), gold contracts for June delivery fell by Rs 2,880, or 1.78 percent, to Rs 1,59,098 per 10 grams with a business turnover of 7,714 lots.

Market experts said bullion prices remained under pressure due to the rally in the dollar and ongoing geopolitical tensions, particularly surrounding Iran, which continued to influence global market sentiment.
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