Gold prices climbed higher on Wednesday, rising for a third straight session, as a weak dollar pushed up the demand for the yellow metal.
The dollar drifted lower after upbeat data on China's factory activity lifted risk sentiment.
China's official manufacturing Purchasing Managers' Index rose to 52.6 from 50.1 in January, smashing expectations after the country abruptly lifted COVID-19 curbs.
China's non-manufacturing activity also grew at a faster pace in February and the private sector index from Caixin/S&P showed factory activity rising for the first time in seven months, helping ease investor fears over rising interest rates.
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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.