After reaching a low of nearly one During the previous trading week, gold rebounded on Friday. Les Investors are waiting for key US inflation figures for get information on the direction of interest rates following robust employment data that reduced expectations of rate cuts.

The spot gold price was up by 1.3 % to $4,982.59 per ounce at 3:11am GMT, and has gained 0.4% since the start of the week.

American gold futures for Deliveries in April increased by 1.1% to $5,001.80 the ounce.

Gold fell by around 3% on Thursday, reaching its Lowest level in nearly a week, falling below $5,000 per ounce, as selling pressure intensified after the rout of stock markets.

“Precious metals have followed the trend of stock markets last night. They weren't really influenced by a major macroeconomic catalyst. Clearly, the massive sales of the Last night were mainly due to new fears related to the impact of AI,” Rodda added.

The cash price increased by 2.5% to $77.02 per ounce, rebounding after a fall of 11% on Thursday, even though it remains on track for a weekly loss of 1.2%.

The spot turntable grew by 1.7% to reach $2,034.41 per ounce, while the palladium rose 2.2% to $1,653.0 .

Both metals should record weekly losses.