Gold price today, May 15 -- Gold rates dropped on the MCX on Friday (15 May) morning amid a stronger US dollar, driven by elevated crude oil prices.

MCX gold June futures were 0.87% down at Rs.1,60,562 per 10 grams, while MCX silver July futures were 3.28% down at Rs.2,81,551 per kg around 9:05 am.

International gold prices declined to an over one-week low, looking set for a weekly decline, pressured by higher energy prices that aggravated concerns of an inflation spike and longer-term higher interest rates.

The dollar index climbed by 0.30% to 99.10 after crude oil benchmark Brent Crude jumped over 1% to trade above the $107 per barrel level.

Crude oil prices have been higher for more than two months now. This has raised fears that i...