Gold Rate Today, June 6 -- The yellow metal has lost its sheen, erasing all gains in 2026, on the back of robust jobs data from the United States, forecasts that the US Federal Reserve will raise interest rates, no sign of peace deal between the US and Iran any time soon, and continued uncertainty over the vital Strait of Hormuz waterway.

According to a Bloomberg report, gold bullion dropped about 3.6% to $4,315.35 an ounce on Friday, giving up this year's advance. Strong labour market means the Fed can consider hiking rates as the war causes price hikes for energy and fuel, it added. Higher rates are typically negative for non-yielding bullion, it noted.

Further, the report added that spot gold fell 3.5% to $4,319.68 an ounce as of 2:5...