Gold Stalls at $4,370 Amid Fed Rate Hike Fears and Inflation Pressures

Gold prices remained relatively stable near $4,370 an ounce as traders weighed the conflicting influences of weak US economic data and rising energy-led inflation pressure on the Federal Reserve's interest-rate path.

The latest US data showed declines in consumer sentiment and retail sales, which eased fears of an imminent rate hike, typically a headwind for non-yielding bullion like gold.

Gold had ended the previous week almost 1% higher, but its price was steady on August 16, as traders considered the implications of these data points on the Federal Reserve's future actions.