
Gold prices witnessed a sharp decline on June 6, 2026, as strong economic data from the United States reduced hopes of an interest rate cut by the US Federal Reserve. The precious metal lost all its gains made earlier this year as investors reacted to a stronger US dollar, rising bond yields, and ongoing geopolitical tensions.
According to global market reports, gold bullion fell nearly 3.6% to around $4,315 per ounce, while spot gold dropped 3.5% to about $4,320 per ounce. Silver prices also came under pressure, falling nearly 7.8% to around $68 per ounce. Platinum and palladium prices declined as well.
Market experts say that strong US jobs data has strengthened expectations that the Federal Reserve could keep interest rates high for a longer period. Higher interest rates generally reduce the appeal of gold because the metal does not provide any interest income. Concerns over tensions in the Middle East and uncertainty surrounding the Strait of Hormuz also continue to influence global markets.
Gold Prices Today, June 6, 2026:
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Silver Prices Today, June 6, 2026:
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