New Delhi, May 1 -- Gold prices faced some selling pressure in evening trade on the MCX on 1 May 2026, slipping briefly below the Rs.150,000 mark, as the rising crude oil prices amid the US-Iran war dimmed investor hopes of a rate cut by the central bank in the near future.

MCX gold futures for June delivery declined as much as 0.90% or Rs.1369 per 10 grams to the day's low of Rs.149,742. Around 5.55 pm, the prices recouped some losses and were down 0.57% at Rs.150,255.

Internationally, too, yellow metal declined as US spot gold was down 1.1% at $4,568.82 per ounce, and on track for a weekly loss of 1.2%. US gold futures for June delivery fell 1.1% to $4,579.70.

The near-term bias remains bearish-to-cautious, weighed down by dollar dem...