Gold prices climbed on Wednesday, lifting the most active gold futures contracts to a firm close for a fifth straight session, after data showed a sharp acceleration in U.S. consumer price inflation in the month of October.
The dollar also firmed against its major counterparts as rising inflation raised concerns about the outlook for interest rates. The dollar index surged up to 94.84, gaining nearly 1%.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.