Gold prices held steady around the $4,400 per ounce level on Thursday, consolidating near a two-month high as investors turned their attention to the upcoming U.S. Producer Price Index (PPI) report for fresh insights into the Federal Reserve’s monetary policy trajectory . Spot gold was little changed at $4,411.91 per ounce, hovering near the previous session’s peak of $4,441.19, its highest since June 5 . U.S. gold futures edged 0.1% higher to $4,446.30, reflecting cautious optimism ahead of the key economic data release .
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The precious metal’s stability follows a robust rally of more than 3% over the past three sessions, driven by a combination of short-covering, safe-haven demand, and growing expectations that the Federal Reserve may be nearing a policy pivot . “We are seeing some consolidation around these levels as the market awaits fresh triggers from the PPI report,” said a senior commodities strategist, noting that a hotter-than-expected reading could prompt profit-taking while a soft print could reinforce bullish momentum .
