Gold rate today, May 3 -- Gold prices came under selling pressure during evening trade on MCX on May 1, 2026, briefly falling below the Rs.1,50,000 mark. The decline was driven by rising crude oil prices amid the US-Iran conflict, which dampened expectations of a near-term rate cut by the central bank.

MCX gold futures for June delivery dropped as much as 0.90%, or Rs.1,369 per 10 grams, to an intraday low of Rs.1,49,742. On Friday, gold prices pared some losses and were trading 0.57% lower at Rs.1,50,255.

In the international front, gold also weakened, with US spot gold falling 1.1% to $4,568.82 per ounce, putting it on track for a weekly decline of 1.2%. Meanwhile, US gold futures for June delivery slipped 1.1% to $4,579.70.

Iran has...