Gold Holds Steady Above $4,400 as Markets Await US Inflation Data

Gold prices remained stable above $4,400 an ounce on Thursday as investors waited for key US inflation data. The data could influence the Federal Reserve's next interest-rate move. The dollar index was also unchanged at 98.74.

Data from the CME FedWatch Tool showed that traders are pricing in a 60% chance of an interest-rate hike at the Fed's September 15-16 meeting. However, most economists surveyed by Reuters expect the Federal Reserve to keep interest rates unchanged this month and through the rest of the year.

Markets are awaiting the release of the US Producer Price Index later today, ahead of the Consumer Price Index data due Friday. This will provide crucial information on inflation trends and help investors gauge the Fed's future actions.