Fed Rate Hike Fears Ease Gold Prices Near $4,400 Amid Mideast Tensions

Gold prices steadied near $4,400 an ounce as traders weighed the Federal Reserve's interest-rate path after recent US economic data. The US economy's main engine showed signs of cooling, with declines in both consumer sentiment and retail sales easing fears of an imminent rate hike.

The risk of monetary tightening remains, however, as oil prices climbed following the US threat to impose economic measures on Iran. This development has added uncertainty for investors, who are closely watching the Fed's next move.