Gold Holds Above $4,400 as US Inflation Data Softens

Gold held firm above the psychologically important $4,400 per ounce level on Friday, extending a rally that has lasted several weeks. Fresh US inflation data showing softer-than-expected price growth was the primary catalyst, reinforcing market expectations of a Federal Reserve rate cut in coming months. Lower rates traditionally boost demand for gold, which yields no interest, making it comparatively more attractive. The metal has gained nearly 10% this month alone, with year-over-year gains in the double digits. For Kazakhstani investors, gold remains a classic tool for hedging portfolios against currency and inflation risks.