Gold futures settled higher on Wednesday as the dollar slipped and bond yields dropped ahead of the Federal Reserve's policy announcement.
CME Group's FedWatch Tool indicates a 99% chance the Fed will leave rates unchanged.
Meanwhile, the likelihood of another rate hike in November has seemingly decreased in recent days. The FedWatch Tool currently indicates just a 26.9% chance of a quarter point rate increase.
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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.