Gold prices rebound as investors hunt for bargains ahead of US inflation data
Gold prices rose over one percent on Friday as bargain hunters stepped in following a sharp sell-off. Investors now await key US inflation data for policy cues.
Insights:
Gold prices climbed more than 1% on Friday as dip-buyers entered the market following a decline to a near one-week low. The rebound in spot gold comes as investors positioned themselves ahead of critical inflation data from the United States 
US, which is expected to shape the near-term policy outlook for the Federal Reserve .
US, which is expected to shape the near-term policy outlook for the Federal Reserve .The upward move in the precious metals complex follows a sharp selloff during the previous session, where prices dropped by approximately 3%. Market participants are now focused on the upcoming U.S. Consumer Price Index report, a key metric that the Federal Reserve uses to gauge interest-rate expectations. Activity was also noted in U.S. gold futures , which mirrored the gains seen in the cash market.
