Gold Prices Rebound Slightly, Investors Eye Fed's Preferred Inflation Gauge

Gold prices recovered slightly on Friday after a sharp decline the previous day, with investors awaiting key U.S. inflation data that could influence the Federal Reserve’s interest rate decisions. Despite the modest gain, gold is down 1% for the week and 4.5% from its recent record high, pressured by strong U.S. economic growth data. While demand in China has weakened due to high prices and seasonal factors, India’s gold market has been boosted by a reduction in import taxes. The precious metal remains up 15% for the year, with its price currently fluctuating between key moving averages.