Gold Rises on Bargain Hunting
Spot gold climbed 0.6 percent to $3,898 per ounce on Friday as bargain hunters stepped in following a sharp drop. Despite the rebound, bullion remained on track for a weekly decline as traders awaited upcoming US inflation data.
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Gold rose 0.6% to $3,898.27 per ounce on Friday morning, driven by bargain hunting after touching a one-year low. Prices are still heading for a weekly decline of 4.1% amid shifting macroeconomic expectations. Investors are recalibrating positions ahead of key inflation metrics from the United States.
