Gold futures settled higher on Wednesday as the dollar remained subdued and bond yields dropped a bit ahead of the Federal Reserve's monetary policy announcement.
The Fed is widely expected to leave interest rates unchanged. Traders look to the accompanying statement and projections for hints the central bank could be planning to pivot to cutting rates next year.
The dollar index, which dropped to 103.68 in early New York session, recovered to 103.90 later on, limiting gold's uptick.
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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.