Gold Prices Extend Losses Amid US Rate Hike Concerns

By News Desk on June 8, 2026

Singapore: Gold prices continued to decline today amid growing expectations that the US Federal Reserve may raise interest rates following stronger-than-expected employment data, while rising oil prices and renewed tensions in the Middle East increased inflation concerns.

Spot gold fell by 0.4 percent to US$4,313.11 per ounce, extending losses from Friday when the metal declined by about 3 percent to its lowest level since 24 March 2026.

US gold futures for August delivery dropped 0.7 percent to US$4,336.30 per ounce.

Among other precious metals, spot silver declined 0.4 percent to US$67.56 per ounce, while platinum fell 0.5 percent to US$1,767.15 per ounce.

Palladium remained largely unchanged at US$1,225.66 per ounce.

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