Gold Holds Near $4,400 as Traders Await U.S. CPI and Fed Signals

Gold rose toward $4,400 an ounce on Wednesday, supported by safe-haven demand and uncertainty over the Strait of Hormuz, while traders awaited U.S. CPI data for clues on the Federal Reserve’s rate path. Persistent energy-price risks could complicate the inflation outlook.

For traders, the CPI is the immediate catalyst: softer inflation could ease rate expectations and support gold, while a hotter reading may lift yields and pressure the non-yielding metal. Resistance near $4,460-$4,495 remains a key technical zone.