Extending a recent upward trend, the price of gold moved higher during trading on Wednesday, reaching its highest levels in over six months.
After moving sharply higher in the previous session, gold for December delivery climbed $7.10 or 0.4 percent to $2047.10 an ounce. The more active gold for February delivery contract rose $6.90 or 0.3 percent to $2,057.50 an ounce.
The previous metal continued to benefit from optimism the Federal Reserve is done raising interest rates following yesterday's remarks by Federal Reserve Governor Christopher Waller.
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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.