Gold Holds Steady Near $4,400 as Traders Await Fed Rate Decision
Gold prices remained stable near $4,400 an ounce on September 10, 2026, with traders closely monitoring the Federal Reserve's potential rate hike decision. The market is waiting for key U.S. inflation data due later in the week to gauge whether further tightening will occur. Gold had previously risen by 1% after a three-day decline but has remained within a narrow trading range amid uncertainty over bond yields and geopolitical tensions, particularly in the Middle East. The recent rise in 10-year Treasury yields pressured gold, which does not offer interest income. Meanwhile, Brent crude prices reached $100 per barrel for the first time since July, adding to inflation concerns. With hostilities in the region persisting into their seventh month and Iran warning of a more intense conflict if U.S. attacks continue, energy supply risks remain elevated. Investors are watching upcoming producer price index (PPI) and consumer price index (CPI) reports ahead of the Fed's meeting on September 14-15. Swaps traders currently assign a roughly 65% probability to another rate hike.
Topics: fed rate hike path gold inflation data