Precious Metals Preview: Inflation concerns push gold and silver futures to 2026 lows

COMEX gold continues to stay battered around a 7 month low on Thursday as uncertainty on war conditions, surging energy prices are adding to inflationary concerns. May US inflation accelerated at its fastest pace in over three years due to surging energy costs, though the data matched expectations. Market focus now turns to the upcoming release of May's Producer Price Index (PPI) and Initial Jobless Claims. Currently, the yellow metal is quoting around November lows at $4075.90 an ounce. Meanwhile, silver futures are also heavily pressured at their lowest level for 2026 at $63.12 per ounce, down more than 2% on the day.

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