Gold recovers 0.8% as investors weigh US inflation data and geopolitical supply risks, though the metal remains on track for a third consecutive weekly decline.
Gold rebounded 0.8% but remains below its 200-day moving average and on track for a third weekly decline, creating a mixed outlook.
Brent crude traded near $108 amid supply concerns from US-Iran tensions, supporting prices.
The US Dollar Index was little changed as markets awaited CPI data and Fed rate decision.
Silver gained 0.8% in sympathy with gold's rebound, though its trend is often correlated with gold's performance.
Platinum rose 1.1%, benefiting from the broader precious metals recovery.
Spot gold rose 0.8% to $4,351.28 on Friday, rebounding from a sharp 1.8% decline in the previous session. Investors are closely monitoring upcoming US CPI data and the Federal Reserve's interest rate outlook, while Brent crude prices hover near $108 per barrel amid escalating US-Iran tensions.
Gold prices are reacting to uncertainty surrounding upcoming US inflation data and the Federal Reserve's potential interest rate hike, which currently has a 70% market-implied probability.