Gold futures settled notably higher on Wednesday as the dollar shed ground and bond yields dropped.
Gold prices climbed higher as data showing contraction in business activity in most of the major economies across the globe triggered safe-haven buying.
Investors also looked ahead to the Jackson Hole Symposium, scheduled to take place later in the week.
The dollar index, which surged to a higher of 103.93, subsequently tumbled to 103.30, losing about 0.25%.
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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.