Gold Prices Steady as Traders Weigh Inflation Risks and Fed Hike Outlook

The price of gold has stabilized as investors weigh the risks of persistent inflation and the potential for further interest rate hikes by the US Federal Reserve.

Bullion is currently trading at around $4,375 an ounce after posting a moderate gain last week.

The Fed raised interest rates by a quarter percentage point on September 15-16, with several policymakers set to speak publicly this week, including Minneapolis Fed president Neel Kashkari and Chicago Fed president Austan Goolsbee.

Kashkari emphasized that inflation remains too high and has broadened beyond the initial oil-price shock caused by the Iran war.