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 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.