Gold price on Tuesday: Why are silver, gold rates crashing today? What will be likely gold price in June?

Gold prices fell on Tuesday. Spot gold fell 0.5 per cent to $4,544.17 per ounce. U.S. ​gold futures for June delivery lost 0.2 per cent to $4,547.70. However, the bullion stayed above a 1-1/2-month low hit in the last session, as markets consolidated while awaiting further developments after U.S. ‌President Donald ⁠Trump paused ⁠a planned attack against Iran. Spot silver fell 2.1 per cent to $76.02 per ounce, platinum lost 0.5 per cent to $1,969.05, and palladium dropped 1.5 per cent to $1,397.23.





Oil prices fell more than 2 per cent, easing some inflation fears. Gold is considered a ​hedge against ​inflation, though higher interest ⁠rates tend to weigh on the non-yielding metal.




Earlier, Gold prices fell 2.4 per cent on Friday in ​their biggest one-day decline since March 26 and extended losses on Monday to touch $4,479.54, the lowest level since March 30, as mounting inflation fears triggered a ​rout in the global bond market. Bullion recovered ⁠to close Monday ‌slightly higher.




"It seems like an oscillation in this ​kind of ​inflation fear trade and a sort of digestion of the ⁠fireworks from Friday," said Ilya Spivak, head of global macro ​at Tastylive, adding that markets are now awaiting broad ​sentiment markers such as the minutes of April's FOMC meeting to be released on Wednesday. Bonds steadied following a steep selloff after Trump said on Monday he had paused a planned attack against Iran to allow for negotiations to take place on a deal to end the U.S.-Israeli war, after Iran ‌sent a new peace proposal to Washington.



Kevin Warsh will be sworn in as Fed chair on Friday by Trump, a White House official said on ​Monday, putting the financier at the helm of the central bank as it grapples with intensifying inflation that may make it hard to push through the interest-rate cuts Trump desires.