Gold steadied near $4,400 an ounce after a subdued US inflation report relieved near‑term pressure on the Federal Reserve to hike interest rates. Bulliondje was little changed in early trading, having gained 0.9% on Wednesday after data showed consumer prices rose just 0.1% in July from a month earlier.

The latest report suggests the impact of the energy‑price shock from the Iran war continued to fade last month. Lower energy costs have helped keep inflation expectations anchored, reducing the urgency for the Fed to raise rates.

With the Fed’s rate‑hike bets dampened, investors view gold as a safe‑haven asset, supporting prices. The market remains cautious but optimistic, as commodity traders monitor upcoming data releases for any shift in monetary policy direction.

Overall, the combination of modest inflation, easing energy prices, and muted rate‑hike prospects keeps gold on a steady path, offering a buffer against broader market volatility.