Global metals markets saw heavy selling pressure on May 15, 2026, as silver, gold, platinum, and copper all recorded sharp losses. The biggest decline came from silver, which plunged more than 8% in a single session, while platinum dropped over 5% and copper fell nearly 5%.
The broad correction came as investors reacted to rising US Treasury yields, a stronger dollar, and growing fears that the Federal Reserve may keep interest rates elevated for longer than expected.
Silver plunges 8.39% as Gold and Platinum extend losses
Silver prices crashed to $76.40 per troy ounce after falling nearly $7 during the session. The metal declined 8.39% in one day, making it one of the steepest drops across the commodity market.
Despite the sharp correction, silver still remains up 142.58% compared to last year and has gained 9.86% since the beginning of 2026.
Gold prices also moved sharply lower. Gold traded at $4532.96 per troy ounce after declining 2.54% during the session. Weekly losses reached 3.49%, while monthly losses stood at 4.96%. However, gold still remains 42.06% higher year over year.
Platinum joined the broader selloff and dropped 5.41% to $1978.30 per troy ounce. Even after the decline, platinum prices are still up more than 102% compared to last year.
Analysts said precious metals faced pressure after stronger inflation expectations pushed bond yields and the US dollar higher. Higher interest rates generally reduce demand for non yielding assets like gold and silver.
Copper drops 4.71% while Lithium remains over 197% higher YoY
Copper prices also came under pressure and fell 4.71% to $6.25 per pound. The industrial metal still remains 37.78% higher compared to last year, supported by long term demand from electric vehicles, construction, and clean energy sectors.
Lithium prices slipped 1.54% to 192000 CNY per ton. Despite the daily decline, lithium continues to be one of the strongest performing metals in the market with a massive 197.67% yearly gain. Monthly growth also remained strong at 14.63%.
Iron Ore traded lower across both Chinese and international markets. Iron Ore CNY declined 0.92%, while benchmark Iron Ore prices in dollars slipped 0.14%.
Silicon prices dropped 2.11% and remained under pressure with weekly losses reaching 5.86%. Meanwhile, Titanium prices stayed flat during the session but still showed a 5.43% year to date increase.
Steel market stays stable despite broader commodity volatility
Steel markets remained relatively stable compared to precious and industrial metals. HRC Steel prices rose slightly by 0.10% and are now up 20.97% year to date.
Chinese Steel prices slipped 0.62%, while Scrap Steel edged 0.24% lower. Both markets still maintained positive yearly growth.
Cobalt Hydroxide prices remained mostly unchanged during the session but continued to show strong yearly growth of 93.17%.
The latest correction across metals markets highlights growing investor caution as traders continue tracking inflation data, Federal Reserve policy expectations, global industrial demand, and movements in the US dollar. Analysts expect volatility across precious and industrial metals to remain elevated in the coming weeks.