Gold prices surged higher on Thursday as the dollar remained quite subdued amid indications the Fed is nearing the end of its tightening cycle.
The latest projections suggest the Fed plans just one more quarter-point rate hike this year, with CME Group's FedWatch Tool currently showing a roughly 50-50 chance the increase will come in May.
Even if the Fed raises rates again at its next meeting, traders may take some comfort in knowing officials feel a range of 5.0 to 5.25% will be the so-called "terminal rate."
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.