Following the pullback seen in the previous session, the price of gold moved back to the upside during trading on Wednesday.
Gold for June delivery climbed $23.30 or 0.7 percent to $3,373.50 an ounce, more than offsetting the $20.40 or 0.6 percent decline on Tuesday to reach its highest closing level in almost a month.
The rebound by the price of the precious metal came amid a decrease in the value of the U.S. dollar, with the U.S. dollar index falling by 0.5 percent.
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Market Analysis
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.