Gold & Silver Rates Outlook For June 8-12; Will Gold & Silver Face A Black Week Again Or Bulls Will Returns?

Gold and silver rates recorded one of their worst weekly performances of 2026 last week. Spot gold shattered by over 4% to hit the year's low of approximately $4,330 per ounce. And then there was spot silver, which was trapped in a brutal runover by bears, crashing by nearly 9% in a single day to end the week below $68 per ounce. In India, precious metals faced their own harsh sell-offs, with MCX gold of August 2026 expiry falling below Rs 1.56 lakh mark and MCX silver collapsing below Rs 2.49 per 1Kg mark.

Among the physical golds, 24 carat nosedived by nearly Rs 35,000 in 100 grams in a span of three consecutive days selling pressure. 1Kg silver price topped below Rs 2.70 lakh mark.

The reason? Firmer dollar, soaring bond yields, stronger-than-expected US job reports, a rising probability of interest rate hikes from the US Federal Reserve, and unsettling geopolitical risks in West Asia. All played a major role in pushing gold and silver for a stormy week despite crude oil prices falling significantly.

Here are the latest prices of gold rates across the globe:

MCX Gold Price + MCX Silver Price

Last week, MCX gold for August 2026 expiry finished at Rs 1,55,600 per 10 grams, registering a crash of Rs 3,947 or 2.47% on June 5th alone.

Meanwhile, MCX silver price for June 2026 expiry, stood at Rs 2,48,201 per 1Kg after recording a humungous crash of Rs 16.595 or 6.3% on the exchange.

They followed spot gold and spot silver's downturn.

Spot Gold Price + Spot Silver Price

Spot gold dropped to its lowest level of 2026 to end the week around $4,331 per ounce. This bullion recorded more than 4% weekly decline.

Coming to spot silver, this precious metal nosedived by 8.9% on June 5th alone to end at $67.29 per ounce. Its weekly performance was down by 7%, worser than gold.

Gold Rates In India + Silver Rates In India:

From June 4th to June 6th, 24 carat gold price crashed by Rs 34,900 per 100 grams and by Rs 3,490 in 10 grams. Meanwhile, 22 carat gold declined by Rs 32,000 per 100 grams and Rs 3,200 per 10 grams during these three days.

On the other hand, silver price plunged by Rs 15,000 from June 5th to 6th.

Currently, 24 carat gold is priced at Rs 1,52,730 per 10 grams, at Rs 15,27,300 per 100 grams and at Rs 15,273 per 1 gram. Also, 22 carat gold price stood at Rs 14 lakh per 100 grams, at Rs 1,40,000 per 10 grams and Rs 14,000 per 1 gram.

In case of silver, 1Kg is priced at Rs 2.65 lakh, while 100 grams and 10 grams silver rates are at Rs 26,500 and Rs 2,650.

In June so far, gold sank by 2.23% and silver rate underperformed with 5.4% decline.

Will Gold Rates & Silver Rates Continue To Fall From June 8th To June 12?

As per SMC Global Securities note, market sentiment remained influenced by expectations that U.S. interest rates could stay elevated for longer, limiting the upside in precious metals. Geopolitical developments continued to play a key role in driving market volatility.

U.S. President Donald Trump stated that peace negotiations regarding the Middle East conflict were approaching their final stages and indicated reluctance to engage in a full-scale war with Iran despite recent tensions. However, Iranian Foreign Minister Abbas Araghchi noted that there has been no meaningful progress in the discussions.

Adding to uncertainty, Iran-backed Hezbollah rejected a U.S.-mediated ceasefire proposal between Israel and Lebanon, raising doubts about efforts to ease regional tensions. Meanwhile, the ongoing conflict and concerns over disruptions to energy supplies through the Strait of Hormuz kept crude oil prices elevated.

Further, SMC's note explained that higher energy prices reinforced inflation concerns and strengthened expectations of tighter monetary policy, creating headwinds for bullion. Physical demand for gold remained subdued in India as buyers stayed cautious amid volatile international prices. In China, gold premiums eased slightly, reflecting softer demand. India's hike in gold and silver import duties to 15% dampened demand, triggering profit-booking and the first ETF outflow in a year.

Technically, analysts at SMC in the note said, "COMEX Gold has immediate support near $4,390 and resistance around $4,640. Abreak below $4,390 could trigger further downside towards $4,280. COMEX Silver is expected to trade within the $68-$78 range. On MCX, Gold may trade between Rs1,52,000 and Rs1,63,000, while Silver is likely to remain in the Rs2,40,000-Rs2,73,000 range in the coming week.

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