Gold, silver rates today: Comex gold slips below $4,000, silver falls $1.6 amid US Fed rate hike fears

Gold and silver prices came under renewed pressure on Tuesday, with Comex gold slipping below the key $4,000 mark to an intraday low of $3,955, down about 12% in June. Gold is on track for its worst quarterly performance in 13 years, declining 13.5% in Q2 2026, while silver has tumbled about 20% in the quarter. The sell-off has been driven by a stronger US dollar and hawkish expectations from new Federal Reserve Chair Kevin Warsh, with traders pricing in around a 65% probability of a rate hike in September. On the MCX, near-month gold dropped to about Rs 1,40,450 per 10 grams, while silver recovered to around Rs 2,30,800 per kg.