Gold Rallies Above $4,400 as Iran Tensions and Easing Inflation Boost Safe-Haven Demand

Gold prices continued their upward momentum this week, surpassing $4,400 per ounce as investors sought safe-haven assets amidst ongoing geopolitical tensions.

The Iran-U.S. conflict remains a major catalyst for gold's rally, with investors turning to the precious metal as a hedge against renewed uncertainty and potential disruptions to energy supplies.

According to the latest U.S. Consumer Price Index (CPI) data, annual inflation eased to 3.4% in July, down from 3.5% in June, which could further reduce expectations for restrictive monetary policy from the Federal Reserve.

The combination of macroeconomic and geopolitical factors has strengthened gold's technical structure, with the metal now trading above its key daily Exponential Moving Averages (EMAs) after a week of consistent gains.