Gold prices recovered on Friday after sliding to a near one-week low in the previous session, as investors awaited key U.S. inflation data for clarity on the Federal Reserve’s interest rate path.
Spot gold rose 1.3% to $4,982.59 per ounce as of 0311 GMT, trimming earlier losses and taking weekly gains to 0.4%. U.S. gold futures for April delivery climbed 1.1% to $5,001.80 per ounce.
The rebound comes after gold dropped nearly 3% on Thursday, breaking below the key $5,000 level amid intensified selling pressure following a sharp equity market rout. Analysts noted that precious metals moved lower alongside equities, with the broader sell-off linked to fresh concerns about AI-driven disruption and pressure on tech sector margins.
Asian equities also retreated from record highs on Friday, with technology names including Apple facing renewed selling.
Gold had come under pressure earlier in the week after U.S. data showed the labor market started 2026 stronger than expected, reducing expectations of near-term rate cuts. Markets currently price in two 25-basis-point rate cuts this year, with the first expected in June. As a non-yielding asset, gold typically benefits in lower interest rate environments.
Among other metals, spot silver jumped 2.5% to $77.02 per ounce after an 11% plunge on Thursday, though it remained down 1.2% for the week. Platinum gained 1.7% to $2,034.41, while palladium rose 2.2% to $1,653.00, with both still headed for weekly losses.