Gold futures settled lower on Monday as the dollar climbed up amid bets about a rate hike ahead of the Federal Reserve's policy announcement.
The Federal Reserve is scheduled to announce its monetary policy on Wednesday. The central bank is widely expected to raise rates by 25 basis points. As per the CME FedWatch tool, probability for a 25 basis points hike now stands at 84.3 percent, versus 83.9 percent a day earlier and 90.5 percent a week earlier.
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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.