Gold prices were subdued on Thursday, but held around a two-month high on concerns surrounding inflation and geopolitical tensions between Russia and Ukraine.
Spot gold dipped 0.1 percent to $1,838.79 per ounce, while U.S. gold futures were down 0.2 percent at $1,839.
Ahead of next week's Federal Reserve policy meeting, U.S. President Joe Biden backed the central bank's plans to scale back stimulus, saying taming inflation is a critical job for the Federal Reserve.
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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.