Singapore, February 13 (QNA) - Gold prices rebounded on Friday after slipping to a near one-week low, as investors positioned ahead of closely watched US inflation data that could provide fresh signals on the Federal Reserve's interest rate outlook.
Spot gold rose 0.6% to $4,949.99 per ounce, though the metal remains down 0.2% since the start of the week.
US gold futures for April delivery gained 0.4% to $4,968 per ounce.
Investors are awaiting US inflation figures due later today for further clarity on the Federal Reserve's monetary policy path. Gold, a non-yielding asset, typically benefits in a lower interest rate environment, as lower borrowing costs reduce the opportunity cost of holding bullion.
Among other precious metals, silver climbed 1.5% in spot trading to $76.31 per ounce, rebounding after an 11% drop in the previous session. Platinum advanced 0.9% to $2,018.44 per ounce, while palladium jumped 3% to $1,672.48 per ounce. (QNA)