Despite the dollar's weakness amid easing concerns about interest rates, gold futures failed to hold early gains and settled lower on Friday.
The dollar index dropped to 103.95, losing nearly 0.4%, amid speculation the Federal Reserve might announce a rate cut in the first half of 2024.
Data showing softer than expected increase in inflation has reinforced investors' expectations that the Federal Reserve will refrain from raising interest rates over the next several months before cutting rates in mid-2024.
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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.