Gold Prices Rebound to $4,400 as Dollar Eases and Inflation Concerns Abate

Gold prices have rebounded to above $4,400 an ounce after a softer dollar and easing inflation concerns.

The metal's value has risen by over 1% on Thursday as investors await the U.S. nonfarm payrolls report on Friday for the next major policy clue.

Federal Reserve Bank of New York President John Williams said there is evidence that U.S. inflation is continuing to ease, with higher energy prices not spreading into other services.

The ADP employment report showed that U.S. companies added 38,000 jobs in August, further tempering expectations for aggressive Fed tightening.