Gold prices drifted lower on Wednesday despite the dollar's mild retreat from multi-month highs.
The dollar index, which climbed to 107.24, has eased to 106.80, down 0.18% from the previous close.
Atlanta Fed Bank President Raphael Bostic said that there is no urgency for the Fed to raise interest rates further to get inflation back under control.
On the contrary, Cleveland Fed President Loretta Mester said that she thinks another interest rate hike is on the table and that rates could be held higher for "some time" to assess the effects of the tightening in financial conditions that have already occurred.
For comments and feedback contact: editorial@rttnews.com
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.