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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.