Gold Rebounds to $4,400 Amid Weaker Dollar, Inflation Data Looms

The price of gold rebounded to around $4,400 in early Asian trading on Thursday, snapping its three-day losing streak. The precious metal's gains were fueled by a weaker US Dollar.

Traders are closely watching the upcoming US inflation data releases, with the Producer Price Index (PPI) due on Thursday and the Consumer Price Index (CPI) on Friday. These reports could provide crucial clues about the Federal Reserve's next interest rate decision.

The market is pricing in a 60% chance of an interest rate hike at the Fed's policy meeting next week, according to the CME FedWatch Tool.