Forex
Gold Stabilizes Near $4,400 Amid Fed Rate Hike Uncertainty
Gold has steadied near $4,400 an ounce as traders await US inflation data to gauge the Federal Reserve's interest rate hike path.
The metal has traded in a narrow range since bouncing from a floor near $4,000 an ounce in July, with some investors betting on its long-term value despite headwinds from rising bond yields and escalating tensions in the Middle East.
Bullion was steady at $4,400.32 an ounce as traders recalibrate their outlook for Fed policy ahead of the central bank's next meeting on September 14-15.