Gold prices rebounded on Thursday after falling to a six-month low earlier amid heightened U.S.-Iran tensions and Fed rate hike concerns.
Spot gold was up 0.6 percent at $4,095.45 an ounce after reaching a six-month low at $4,024 an ounce earlier. However, U.S. gold futures were down half a percent at $4,114.42.
The dollar wobbled as fresh U.S.-Iran military clashes cast doubt on the prospects for a peace deal and data showed consumer inflation soared to its highest level in three years in May, matching expectations.
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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.