Gold futures settled higher on Wednesday as the dollar shed ground against major counterparts ahead of the Federal Reserve's monetary policy announcement.
The dollar index dropped to 102.66, losing about 0.65% on expectations the Federal Reserve might pause its recent interest rate increases.
Gold futures for August ended higher by $10.30 at $1,968.90 an ounce.
Silver futures for July ended up $0.283 at $24.105 an ounce, while Copper futures for July settled at $3.8700 per pound, gaining $0.0390.
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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.