Gold prices fell nearly 2 percent on Thursday as the dollar remained near recent highs on inflation fears and hawkish Fed bets.
Spot gold tumbled 1.9 percent to $4,420.05 an ounce as oil topped $100 a barrel again amidst conflicting developments in the Middle East. U.S. gold futures were down 3 percent at $4,453.
While the U.S. insists negotiations are ongoing, the Islamic Republic dismissed President Trump's plan for a truce and launched more attacks on Israel and Gulf Arab countries.
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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.