Gold prices edged lower on Wednesday as the dollar came off the day's lows ahead of the release of the minutes of the Federal Reserve's most recent policy meeting.
Worries about the ongoing war in Ukraine and fresh sanctions on Russia limited gold's downside.
Expectations of aggressive policy tightening by the Federal Reserve lifted the dollar index to 99.75 in the Asian session today. The index subsequently dropped to 99.31 before recovering to 99.56.
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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.