The price of gold rebounded before the release of US inflation data.

Gold prices rebounded after falling on Thursday, as investors waited for the release of US inflation data later on Friday to find more clues about the interest rate cut path this year. Soojin Kim from Mitsubishi UFJ said, "Gold prices have recovered some lost ground recently, as bargain hunters returned before the release of key US inflation data; gold prices rose by 1.4% at one point, after falling by 3.2% the previous trading day, marking the largest single-day decline in a week." She added, "The previous decline occurred simultaneously with the overall market's nervous sentiment, and may have been amplified by additional margin calls, algorithmic trading, and profit-taking." In early trading, New York gold futures rose by 1.1% to $5,002.10 per ounce, with hopes of recording a modest weekly gain. Meanwhile, silver futures also rebounded from the previous trading day's decline, rising by 4% to $78.71 per ounce.