Gold futures settled higher on Friday, rebounding from recent losses, despite the latest round of interest rate hikes by some central banks and hawkish comments from several Fed officials.
Gold prices edged higher on the previous metal's safe-haven appeal, as riskier assets such as stocks drifted lower amid worries about inflation and an economic slowdown.
The dollar surged higher after U.S. Fed Chair Jerome Powell reiterated plans to continue raising interest rates during his second day of testimony on Capitol Hill.
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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.