Gold Stalls Near $4,400 as Traders Eye Inflation Data

Gold prices remained relatively stable near $4,400 as investors awaited U.S. inflation data for clues on whether the Federal Reserve will raise interest rates at its meeting next week.

The precious metal traded in a narrow range around $4,400 in recent weeks after rebounding from a floor near $4,000 in July, according to Investing.com.

U.S. Treasury yields rose after the government's latest plan to buy as much as $6 billion of longer dated debt failed to sway the bond market, weighing on gold due to its lack of interest.

Investor demand has strengthened, with global gold-backed ETFs attracting $18 billion in August, their second-largest monthly inflow on record, according to the World Gold Council.