Gold futures settled sharply higher on Friday as investors picked up the safe-haven asset amid rising worries about global economic outlook due to higher borrowing costs and the impact of the Israel-Hamas war.
Weak Chinese economic data, lower Treasury yields and a subdued dollar contributed as well to gold's sharp uptick.
Gold futures for December ended higher by $58.50 or more than 3% at $1,941.50 an ounce, a three-week closing high.
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Market Analysis
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.