Gold prices climbed higher on Thursday as investors picked up the safe-haven asset amid concerns about a global economic slowdown and hopes that the Federal Reserve will hold rates unchanged for now.
A subdued dollar also contributed to the previous metal's advance. With inflation data from the U.S. and UK coming in cooler-than-expected, there are expectations that both the Fed and Bank of England will not hike rates and might even reduce rates by the middle of next year.
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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.