Verse 15 seems to have little relation to the context; it is best understood as a statement arising from the psalmist’s narrow escape from death (verses 2-3, 8-9). The meaning of the Hebrew word for Precious in this context is a matter of dispute; it is used in other places of precious stones, and in 36.7a it appears in an easily understood context, “How precious, O God, is your constant love!” (and see similar meaning for the related Hebrew verb in 72.14b). But here it seems odd to assume that the psalmist is saying that the death of Yahweh’s people is a precious thing, a desirable thing, in his sight, unless one follows Dahood, who says “This statement that Yahweh puts great value on the death of his faithful assumes that he will take them to himself when they die.” This is possible, but it seems more in keeping with the context of the psalm and of other passages in the Old Testament to take the word Precious here to mean “costly.” So Toombs: “the Lord is not indifferent to whether or not his faithful servants are killed.” Cohen says “God does not regard their death lightly and therefore hastens to protect them.” Fisher has the note “their death is precious, i.e., costly to him.” So Good News Translation “How painful it is to the LORD”; Traduction œcuménique de la Bible “It costs the LORD to see his faithful ones die”; Biblia Dios Habla Hoy “It costs the Lord a lot to see those who love him die”; New Jerusalem Bible has “is grievous in the LORD’s sight”; and Bible en français courant “The Lord sees with sorrow the death of his faithful ones.”

Here saints, as elsewhere, are “God’s own people” (see comments on “godly” in 4.3).

In verse 16 the psalmist appeals to his lifelong devotion to Yahweh, a devotion he inherited from his mother (see similar language in 86.16). The expression I am thy servant should not be translated so as to imply that the psalmist is a domestic employee of the LORD. If this is a likely understanding, it will be better to use a verb form; for example, “O LORD, I am the one who serves you” or “… I am the one who worships you.” It seems that the double expression servant, the son of thy handmaid implies an inherited slave status metaphor, and in that case a stronger term than servant is required; for example, “I am your slave, just as my mother was.” If this is too strong, Good News Translation will serve as a good model. In verse 16c Thou hast loosed my bonds most likely refers to the psalmist’s deliverance from death (verses 2-3, 8-9); some, however, take it literally to mean to be set free from prison. Dahood takes the verb here to be an imperative, “Loose my fetters!”

Quoted with permission from Bratcher, Robert G. and Reyburn, William D. A Handbook on the Book of Psalms. (UBS Helps for Translators). New York: UBS, 1991. For this and other handbooks for translators see here .