Gold sits above $4,400 after hitting its highest level since June 5, at $4,450, in Asia on Thursday. Gold looks to build on the uptrend, following soft US inflation data. Receding Fed-hike bets continue to drive flows towards the non-yielding bullion amid subdued US Dollar price action. However, the US-Iran standoff could limit any meaningful USD decline and cap the precious metal as traders now look to the US PPI for a fresh impetus.
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