Gold prices climbed higher on Wednesday as the U.S. dollar continued to drift lower amid hopes the Federal Reserve will slow down the pace of interest rate hikes at upcoming policy meetings.
Data on Tuesday showed U.S. consumer confidence ebbed in October and home prices fell sharply in August, adding to recent signs that the Fed's aggressive tightening stance was starting to cool the world's largest economy.
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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.