On June 6, the international gold price and silver price dropped significantly. As of the close of the session, the spot price of gold was $4,315.35 per ounce, a decrease of 3.26%; the spot price of silver was $67.84 per ounce, a decrease of 8.20%.
Additionally, the futures price of gold for August delivery at the New York Mercantile Exchange was reported at $4,365.30 per ounce, representing a decrease of 3.10%. The futures price of silver for July delivery was reported at $69.103 per ounce, indicating a decrease of 6.58%.
This week, the price of gold on spot decreased by 4.63%, while that of silver on spot decreased by 9.89%. The price of major gold futures contracts in New York decreased by nearly 5%, and the price of major silver futures contracts decreased by more than 8.9%.
According to statistics, due to factors such as the rise in US bond yields and the US dollar index, as well as the low demand for physical gold from India, a major gold-consuming country, the international gold price has almost lost all its gains this year. The price of silver has dropped to its lowest level this year.
