Gold Holds Steady Amid Cooling US Inflation and Iran Tensions

Gold prices have stabilized around $4,400 per ounce following a surge driven by declining US inflation metrics. The slowdown in consumer inflation to 3.4% in July has reduced expectations for a September Federal Reserve rate hike from 54% to 40%. This decrease in interest rates makes gold more attractive as an investment opportunity.

The Producer Price Index (PPI) data is now being closely watched by investors, who are seeking further cues on the Federal Reserve's monetary policy stance. The stalled negotiations between the US and Iran have also contributed to safe-haven demand for gold.