Gold Prices Hold Steady Above $4,400 Amid Dollar, Rate Hike Uncertainty

Gold prices held steady above $4,400 an ounce on Tuesday, as a weaker U.S. dollar and supportive currency moves countered elevated Treasury yields and expectations for a Federal Reserve rate increase.

The spot gold price rose 0.6% to $4,432.79 an ounce at 4:32 a.m. GMT, according to Reuters, with investors looking ahead to key inflation data releases later this week.

Société Générale noted that positioning, investment flows, and derivatives activity point to broadly bullish sentiment in the gold market, adding to a constructive institutional backdrop for the metal's technical picture.

Gold remains above its 50-day average but faces resistance at $4,450, which could mark the first test of strength if bulls reclaim this area.