Gold slips towards $4430 ahead of key US inflation data

Gold slipped towards $4430 an ounce in Asia electronic trading on Thursday as investors positioned ahead of key US inflation readings that could shape the Federal Reserve?s next policy decision. The PPI report for August is due later today, followed by CPI on Friday, with markets pricing around a 60% chance of a Fed rate hike at the September 15?16 meeting. A weaker dollar and safe-haven demand provided some support, although higher oil prices near $100 per barrel and rising bond yields continued to weigh on the non-yielding metal. Meanwhile, ongoing US-Iran tensions offered additional hedging demand but failed to offset the broader macro pressure. MCX October gold futures traded largely flat at Rs 153732 per 10 grams.

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