Gold Stalls Near $4,400 Amid Fed Rate Hike Anticipation

Gold prices hovered near $4,400 an ounce on September 9th as markets awaited U.S. inflation readings for clues on the Fed's next move.

The Federal Reserve is expected to hike interest rates at roughly a 65% chance, according to swaps, and this week's PPI and CPI could sway expectations going into the Sept. 14-15 Fed meeting.

Despite gold's quiet near $4,400 and a 1% rebound after a three-day dip, traders remain cautious due to higher yields and geopolitical risk.