Gold Stalls at $4,400 Ahead of Crucial US Inflation Data

Gold prices have been fluctuating around $4,400 per ounce as investors await key US inflation data that could influence expectations about the Federal Reserve's next interest-rate decision.

The market is focused on two major economic indicators: the Producer Price Index (PPI) and Consumer Price Index (CPI). These numbers will provide insight into whether inflation is rising or falling, which in turn affects expectations of the Fed's policy.

A weaker US dollar generally supports gold prices because it makes the precious metal more affordable for international buyers. However, a stronger dollar and higher Treasury yields have put pressure on gold this week.