International gold prices drop over 1%, India's increased import duty on gold may "cause long-term resistance"

【Global Finance News Combined Report】In the early morning of May 15, Eastern Eight Zones, international precious metals futures closed broadly lower. COMEX gold futures dropped 1.09% to $4,655.40 per ounce, and COMEX silver futures fell 6% to $84.01 per ounce. Some analysts say that while safe-haven demand is supporting precious metals, a hawkish outlook for Federal Reserve personnel, India's tariffs curbing demand, and tightening monetary policy in Europe have together suppressed prices.

Vietnam News Agency recently published an article stating that the latest economic data indicates continued inflation in the United States. The April 2026 Producer Price Index (PPI) rose more than expected, marking the largest increase since early 2022. As the latest inflation data removes expectations for an interest rate cut by the Federal Reserve, global gold prices are under pressure.

Peter Grant, Senior Metals Strategist and Vice President of Zaner Metals, said that inflation remains at a high level, and the market increasingly believes that interest rates will remain high for longer than anticipated, which has put pressure on gold prices over the past two trading days.

In addition, India has raised import tariffs on gold and silver from 6% to 15% to limit imports and relieve pressure on foreign exchange reserves. Grant indicated that this move could reduce demand and create long-term headwinds for the gold market.

Editor: Zhu Henan