Gold prices plummeted below $4,200 an ounce on Wednesday as investors weighed rising U.S.-Iran tensions and awaited key U.S. inflation reading for fresh insights into market expectations for future interest rates in the face of rising energy-driven inflation risks.
Spot gold tumbled nearly 2 percent to $4,173.99 an ounce due to shifting interest rate expectations globally. U.S. gold futures were down 2.2 percent at $4,192.09.
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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.