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Gold Holds Steady Near $4400 Amid U.S. Inflation Ahead
Gold prices steadied near $4,400 an ounce as the market awaits U.S. inflation data, which will likely influence the Federal Reserve's possible decision to raise interest rates. Prices experienced a slight decline from $4,398.53 per ounce, while futures are trading at $4,442. The market is affected by rising U.S. Treasury yields and tensions in the Iran war, while a declining dollar and record-breaking gold ETF inflows support prices. Experts believe that surpassing the 200-day moving average level (around $4,537) signals the end of the correction and the return of an upward trend.
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