Gold prices climbed to five-month highs on Friday, with rising Middle East tensions pushing up the demand for the safe-haven metal.
However, amid concerns about the outlook for interest rates, the yellow metal gave up most of its gains as the session progressed and eventually ended the day's session just marginally up. A somewhat subdued dollar supported gold's uptick. The dollar index, which climbed to 106.80 in early New York session, dropped to 106.32 around mid morning, but recovered to 106.55 later on, cutting its loss to just around 0.05%.
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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.