Fed Rate Hike Expectations Cap Gold Prices Near $4,450

Gold prices remain steady at $4,450 per ounce as investors hold back amid expectations of potential Federal Reserve rate hikes. The precious metal has been rangebound in recent sessions, reflecting a balance between safe-haven demand and higher borrowing costs.

The key support zone for gold is around $4,450, with prices repeatedly bouncing off this area over the past two weeks. However, upside momentum has been limited by the prospect of tighter monetary policy.

The Federal Reserve's stance has been shaped by persistent inflation data and resilient labor market indicators, leading traders to price in a higher probability of a rate hike at the next Federal Open Market Committee (FOMC) meeting.