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Commodities

Gold Prices Slide Below $4,400 Amid Fed Uncertainty

Guavy AI Editorial Team
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Gold
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Gold prices dipped below $4,400 an ounce on Wednesday as investors waited for US inflation data to provide clues about the Federal Reserve's next monetary policy move. The price drop came amid renewed military tensions between Washington and Tehran.

The US Dollar Index remained relatively unchanged at 98.74. According to the CME FedWatch Tool, traders see a 60% probability of an interest rate hike at the Federal Reserve's upcoming meeting on September 15-16.

Markets are bracing for the release of US Producer Price Index data on Thursday and Consumer Price Index figures on Friday, which could influence the Fed's decision.

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