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Gold holds near $4400 ahead of US inflation figures
Gold prices remain near the $4,400 per ounce level, as investors await U.S. inflation data that will influence the Federal Reserve's decision on interest rate hikes at its upcoming meeting. Gold experienced a slight decline of 0.1%, settling at $4,398.53 per ounce, fluctuating within a narrow range since July due to rising U.S. Treasury yields and increasing inflation concerns caused by higher oil prices and the ongoing war with Iran. The precious metal has been supported by a temporary pause in the dollar's rise and record inflows into gold investment funds, which reached $18 billion in August, with holdings hitting a historic level of 4,189 tons. Market experts see the approach to the technical level of the 200-day moving average around $4,537 as a key signal for resuming the upward trend after the recent correction.
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