Gold prices edged higher Wednesday morning, extending recent gains ahead of a closely-watched report on U.S. inflation.
The Labor Department is scheduled to release its consumer price inflation report for July at 8:30 am ET.
Economists expect consumer prices to have increased by 0.2 percent month-over-month, slower than the 0.3 percent increase in June.
A big uptick in inflation could pave the way for the Federal Reserve to raise interest rates next month.
The minutes of the July FOMC meeting are on tap this afternoon.
Gold was up 4 dollars at $1121 an ounce, staying well away from a recent 5-year low near $1074.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.