Gold Rates & Silver Rates Today (03-06-2026) Live Updates: Spot Gold & Spot Silver Fall On Stronger Dollar

Gold rates and silver rates in India are likely to be under pressure owing to a stronger dollar, which has toppled both spot gold and spot silver in the global market. In the early trade of June 3, 2026, Spot Gold witnessed heavy losses to erase the $4,500 per ounce mark and struggled at $4,475 per ounce. Meanwhile, spot silver slipped by 0.5% to trade below $75 per ounce. MCX gold and silver could follow the trend.

Investors' sentiment soured on the likelihood of the US Federal Reserve to keep interest rates elevated for a longer period. This is after the latest US job openings data, which surged to nearly the highest level in two years in April 2026. Also, layoffs have tumbled, which signals a continued resilience in the labor market.

Investors are now focused on Friday's closely watched nonfarm payrolls report for further clues on the trajectory of monetary policy. Meanwhile, ongoing uncertainty surrounding US-Iran peace negotiations contributed to higher oil prices, fueling concerns about inflation and strengthening the case for a more restrictive Fed stance. Still, President Donald Trump stated that talks remain underway, while reports suggest Iranian officials are reviewing a "final text" that could be submitted to the US as negotiations continue, as per Trading Economics.

On the other hand, US WTI Crude Oil and Brent Crude surged by 1% each to trade around $95 per barrel and $97 per barrel. The ongoing uncertainty around US-Iran ceasefire agreement continues to keep energy crisis and inflationary woes in the loop. In the latest development, US has attacked Iran's Qeshm Islan, and claimed to have defeated the Islamic Regime's missile and drone attacks in Gulf. While Tehran has launched targeted attacks in neighboring countries like Kuwait and Bahrain.

The US dollar rose above 99.2 mark due to Middle East tens and US job openings data. Gold and silver become less attractive when dollar rises in general terms.