Forex
US Inflation Data May Influence Fed Rate Hike Decisions Amid Gold Price Stability
Gold prices have steadied near $4,400 an ounce as investors await US inflation data due later this week for clues to the Federal Reserve's interest rate hike path.
The metal has traded in a narrow range in recent weeks, with some investors betting on its long-term value as a portfolio hedge despite near-term headwinds from rising bond yields and escalating tensions in the Middle East.
Gold added 1% in the previous session to snap a three-day losing streak. The current price is near $4,400 an ounce, indicating some stability in the market.