Gold Stays Put at $4,400 as Traders Eye U.S. Inflation Data

Gold prices held steady near $4,400 an ounce as investors awaited this week's U.S. inflation data for clues on potential Federal Reserve rate hikes.

The metal has been trading in a narrow range around $4,400 in recent weeks after rebounding from near $4,000 an ounce in July.

Rising U.S. 10-year Treasury yields and inflation concerns tied to oil prices and tensions in the Middle East are weighing on gold prices in the short term.