--- title: "Silver ETFs slip up to 6%, gold ETFs down 2% on rate hike, West Asia fears" type: "News" locale: "en" url: "https://longbridge.com/en/news/289006482.md" description: "Gold and silver ETFs declined on June 8, 2026, driven by US rate hike fears and West Asia tensions. Silver ETFs fell up to 6%, while gold ETFs dropped over 2%. Spot gold decreased 0.2% to $4,319.09/oz, with MCX futures also down. Analyst Ponmudi R maintains a cautious-to-negative near-term bias for both metals, citing geopolitical uncertainty and market volatility as key influences on price direction." datetime: "2026-06-07T21:44:07.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289006482.md) - [en](https://longbridge.com/en/news/289006482.md) - [zh-HK](https://longbridge.com/zh-HK/news/289006482.md) --- # Silver ETFs slip up to 6%, gold ETFs down 2% on rate hike, West Asia fears Gold and silver exchange-traded funds (ETFs) were under selling pressure on Monday, June 8, 2026, tracking a fall in precious metals prices. At 10:38 AM, among others, HDFC Silver ETF was down 6 per cent, Tata Silver ETF, SBI Silver ETF, Kotak Silver ETF, UTI Silver ETF, Axis Silver ETF, Mirae Asset Silver ETF, and DSP Silver ETF were down over 5 per cent. Meanwhile, gold ETFs were also trading with losses. LIC MF Gold ETF, Tata Gold ETF, HSBC Gold ETF, Groww Gold ETF, HDFC Gold ETF, and Axis Gold ETF dropped over 2 per cent. In the international market, spot gold fell 0.2 per cent to $4,319.09 per ounce on rising fears of a US rate hike ‌after a strong jobs report, while renewed hostilities in West Asia pushed oil prices higher and fanned inflation concerns. Prices fell about ​3 per cent on Friday. Tracking global commodity prices, on the Multi-Commodity Exchange (MCX), gold and silver futures on the MCX also fell. Gold August futures were down 1.04 per cent at ₹1,53,970 per 10 gm, while Silver July futures slipped 2 per cent to trade at ₹2,43,575 per kg. **Check - TOP GAINERS NSE | TOP LOSERS NSE** ### Analyst’s view: For MCX gold, Ponmudi R, CEO of Enrich Money, believes the near-term bias remains cautious to negative, with geopolitical uncertainties and broader market volatility continuing to influence price direction. “Immediate resistance is placed at ₹1,55,000–₹1,55,700, and a sustained move above this zone is required to strengthen momentum and extend the recovery toward ₹1,57,000. On the downside, a decisive break below ₹1,54,000 could intensify selling pressure and drag prices toward the ₹1,52,000–₹1,51,500 support region,” said Ponmudi R. For MCX Silver, he also sees the near-term bias remains cautious to negative, with a breakout above key resistance levels needed to improve sentiment, while geopolitical developments, safe-haven demand, and broader market volatility continue to influence price direction. “On the upside, a sustained move above ₹2,50,000 is required to strengthen momentum and trigger a recovery toward ₹2,55,000 and further toward the ₹2,60,000 zone. On the downside, a decisive break below the ₹2,40,000 support level could intensify selling pressure and drag prices toward the ₹2,35,000–₹2,30,000 region,” said Ponmudi R. _**Disclaimer: Views and recommendations are those of the brokerage/analyst and are not endorsements. Readers should exercise discretion.**_ ### Related Stocks - [518850.CN](https://longbridge.com/en/quote/518850.CN.md) - [82824.HK](https://longbridge.com/en/quote/82824.HK.md) - [03081.HK](https://longbridge.com/en/quote/03081.HK.md) - [02840.HK](https://longbridge.com/en/quote/02840.HK.md) - [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md) - [SLVR.UK](https://longbridge.com/en/quote/SLVR.UK.md) - [07299.HK](https://longbridge.com/en/quote/07299.HK.md) - [02824.HK](https://longbridge.com/en/quote/02824.HK.md) - [GOLD.AU](https://longbridge.com/en/quote/GOLD.AU.md) - [AGQ.US](https://longbridge.com/en/quote/AGQ.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [09824.HK](https://longbridge.com/en/quote/09824.HK.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [SLV.US](https://longbridge.com/en/quote/SLV.US.md) - [SIVR.US](https://longbridge.com/en/quote/SIVR.US.md) ## Related News & Research - [Comex gold settles 1.75% lower at $4260.00](https://longbridge.com/en/news/289228195.md) - [Gold falls on rate-hike fears as Middle East hostilities escalate](https://longbridge.com/en/news/289025021.md) - [Gold’s near-term outlook remains bearish, chart shows](https://longbridge.com/en/news/289117638.md) - [Comex gold settles 0.03% lower at $4335.90](https://longbridge.com/en/news/289089036.md) - [Gold & Silver: From Pullback To Perfect Setup](https://longbridge.com/en/news/289208644.md)