June 9, 2026

Market Overview 03-06-2026 to 09-06-2026

Contradictory Price Dynamics in the Precious Metals Market

Last week, the precious metals market experienced considerable price volatility. This was related both to unexpected progress in the sphere of geopolitical negotiations, an increased probability of Federal Reserve interest rate hikes, and the latest US economic data.

The global gold price declined by 0.5% between June 3 and June 9, reaching $4,311 per troy ounce.

Optimistic news regarding the US-Israel-Iran conflict has recently contributed to declining gold prices and overall demand in the market. The governments of Israel and Iran officially announced the suspension of attacks.

Against the backdrop of fragile ceasefire efforts, investor fears and market risks were also slightly eased by statements from Donald Trump. The US President suggested that both sides were seeking an immediate ceasefire and that negotiations on a final peace agreement were also moving forward.

The global silver price increased by more than 2.15% between June 3 and June 9, reaching $76.28 per troy ounce.

Although the silver market recorded short-term price growth, this precious metal still remains near its lowest price level since the end of March this year.

The latest US economic indicators also signal that the silver market may not experience more significant growth in the near future.

US labour market data exceeded all expectations. Reports indicate that, excluding the agricultural sector, approximately 172 thousand new jobs were created in the United States during May (analysts had forecast only around 80 thousand new jobs). Considering the resilience of the labour market and the significantly increased US inflation indicators observed recently, expectations are growing that the Federal Reserve may decide to raise interest rates later this year.

According to current market data, the probability that the Federal Reserve will increase interest rates by at least 0.25 percentage points now exceeds 70%. If the interest rate hike scenario materialises, it could negatively affect the attractiveness of precious metals denominated in US dollars (gold, silver, etc.) for holders of foreign currencies.

The global palladium price declined by 4.6% between June 3 and June 9, reaching $1,244 per troy ounce.

The global platinum price declined by more than 6.3% between June 3 and June 9, reaching $1,744 per troy ounce.

The global copper price experienced only minor changes between June 3 and June 9. On June 9, the copper price reached $13,706 per tonne.