Gold Stabilizes Above $4,300 Amid Fed Rate Path Uncertainty

Gold prices held steady above $4,300 an ounce as traders weighed the implications of tame US inflation data on monetary policy. After a brief retreat from its 10-week high of $4,350 an ounce, gold stabilized by midday in London.

The consumer-price index reading suggested that the impact of energy price shocks from the Iran war had faded in July, easing pressure on the Federal Reserve to pursue a more aggressive monetary policy.