Gold prices rose more than 1 percent on Friday amid hopes of easing Middle East tensions.
Spot gold surged 1.2 percent to $4,432 an ounce after falling nearly 3 percent in the previous session. The precious metal, however, remains on track for a weekly loss on inflation and rate-hike jitters.
The U.S. dollar is benefiting from risk aversion as the Middle East conflict showed no signs of easing, with fresh strikes reported in Iran, Israel and Lebanon.
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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.