Gold prices climbed higher on Friday as the dollar turned easy amid rising expectations the Federal Reserve will slow down the pace of interest rate hikes after data showed a slowdown in U.S. inflation.
Data from the Labor Department on Thursday showed U.S. consumer inflation edged down by 0.1% in December after inching up by 0.1% in November.
The annual rate of consumer price growth slowed to 6.5% from 7.1% in November, marking the smallest increase since October 2021.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.