Gold Prices Hold Above $4,380 Amid Interest Rate Anticipation

Gold prices held above $4,380 per ounce on August 11 after reaching a two-month high. According to Reuters, spot gold was little changed at $4,386.13 per ounce by 1135 GMT, with an intraday high of $4,434.84 per ounce earlier in the session.

The precious metal's movement comes as investors await key US inflation data for clues about the Federal Reserve's future interest-rate decisions. The readings could influence expectations for the Fed's interest-rate path and consequently affect bullion prices.

Ole Hansen, a Saxo Bank analyst, noted that the precious-metals outlook was showing signs of improvement, supported by structural demand, a more supportive macroeconomic environment, and tentative signs of returning Western investor interest.