Gold prices have tumbled on Tuesday despite a fall in crude oil prices due to easing of Middle East tensions as economists expect the U.S. Federal Reserve to keep rates higher in the near-term.
Front Month Comex Gold for August month delivery has slumped sharply by $73.90 (or 1.69%) to $4,289.50 per troy ounce.
Front Month Comex Silver for August month delivery has nosedived by $2.438 (or 3.54%) to $66.415 per troy ounce.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.