Gold clings to $4,100, investors await Fed policy cues

June 11, 2026 (MLN): Gold held its ground as investors awaiting a key U.S. inflation reading that could shape expectations for Federal Reserve policy.

Currently, spot gold is down 3.63% to $4,097.01 an ounce as of [10:47 am] PST, according to data reported by Mettis Global.

U.S. consumer inflation accelerated at its fastest pace in three years in May, driven by a surge in energy prices amid the ongoing Middle East conflict.

Attention now turns to May's Producer Price Index data, due later Thursday, for further clues on the Fed's next move, CNBC reported.

Traders are now pricing in over a 70% probability of a U.S. rate hike by December, according to the CME FedWatch tool.

On the geopolitical front, the United States launched fresh overnight strikes on multiple targets inside Iran, the U.S. military confirmed Wednesday hours after President Donald Trump threatened further attacks if a peace deal was not reached.

Iran subsequently declared the closure of the Strait of Hormuz, sending oil prices up.

Among other precious metals, spot silver edged up 0.3% to $63.86 per ounce, platinum gained 0.6% to $1,673.75, and palladium climbed 2.2% to $1,239.89.

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