Today, June 8, 2026, both gold and silver prices in India fell compared to Friday. Gold slipped by about ₹1,240 per 10 grams, while silver dropped nearly ₹6,500 per kg, reflecting pressure from stronger U.S. economic data, rising bond yields, and a firm dollar.
Friday, June 5, 2026 (24K Gold): ~₹15,610 per gram (₹1,59,100 per 10 grams)
Today, June 8, 2026 (24K Gold): ~₹15,169 per gram (₹1,53,620 per 10 grams)
Change: -₹1,240 per 10 grams (~-0.78%)
Friday, June 5, 2026 (22K Gold): ~₹14,309 per gram (₹1,44,925 per 10 grams)
Today, June 8, 2026 (22K Gold): ~₹13,905 per gram (₹1,40,818 per 10 grams)
Change: -₹1,136 per 10 grams (~-0.78%)
Precious metals are in a tailspin as gold and silver prices fell below key technical support levels as stronger-than-expected U.S. non-farm payrolls data reinforced inflationary fears, driving bond yields to a record high.
The rise in bond yields has dramatically changed market expectations. Traders are now talking about Fed rate hikes rather than rate cuts, but bond yields are rising and more and more traders talk about another rate hike by the Fed. Higher yields mean bonds are more attractive to non-yielding assets like gold and silver and once critical support points were broken, heavy selling pressure came.
In this environment, precious metals are finding it hard to keep the momentum going. A stronger U.S. dollar, buoyed by higher yields, has driven that weakness and it has put the investor appetite for gold and silver in an even weaker position and has also harmed gold and silver. Since all these commodities are highly sensitive to monetary policy outlooks and currency movements the market has been very much in the hands of investors who are willing to sell them.
While the long-term thesis of gold still stands— and the stock is a hedge against systemic risk and inflation— the short-term narrative has been disrupted. Traders who had positioned for a rally are now having to take a look at the situation and momentum is clearly favoring downside moves. Silver, more volatile than gold, has also fallen along with it, leading to more losses in metals.
Geopolitical factors also play into the overall economic picture. Energy prices remain the major driver of headline inflation, and global markets are watching closely as political leaders try to stabilize conditions in the Middle East. A ceasefire and de-escalation of tensions also would see inflationary pressures ease and bond yields stabilize, said analysts.
But still gold and silver look vulnerable as yields rise, the dollar is stronger and a lot of technical factors are broken up. There will still be turbulence in the short run, but the demand for precious metals as a store of value for long term is strong. How quickly this is just a short term correction and will turn into a deeper bearish trend in the weeks to come is what will decide if this is good or not?
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