Gold and silver traded without much of a directional bias on June 1, 2026, as the markets digested April’s unexpected inflation data from the United States, as well as whether the truce between the United States and Iran will last.
April’s consumer price index showed headline and core numbers above expectations, which put a damper on hopes of interest rate cuts in the near-term by Federal Reserve Chair Kevin Warsh, propping up real yields and the greenback, while also putting a lid on gold and silver rallies.
Gold continues to benefit from its strong bid from central banks, with the People’s Bank of China extending its buying streak for more than 17 months, while other official institutions are boosting allocations.
Silver, which has a significant industrial share, is navigating its weaker safe-haven flows but with global deficits remaining.
Gold and silver traded without much of a directional bias on June 1, 2026, as the markets digested April’s unexpected inflation data from the United States, as well as whether the truce between the United States and Iran will last. April’s consumer price index showed headline and core numbers above expectations, which put a damper on hopes of interest rate cuts in the near-term by Federal Reserve Chair Kevin Warsh, propping up real yields and the greenback, while also putting a lid on gold and silver rallies.
Gold continues to benefit from its strong bid from central banks, with the People’s Bank of China extending its buying streak for more than 17 months, while other official institutions are boosting allocations. Silver, which has a significant industrial share, is navigating its weaker safe-haven flows but with global deficits remaining.
