Gold Rebounds from One-Week Low; US Inflation Data in Focus

• Spot gold rose 0.6% to $4,949.99 per ounce, recovering from a near one-week low.
• Investors await key U.S. inflation figures for clues on interest rate direction after strong jobs data.
• Gold dropped about 3% on Thursday, breaking below the $5,000-an-ounce support level.
• Robust U.S. job market data reinforced expectations of higher interest rates for longer.
• Gold in India traded at a discount due to subdued demand, while China saw strong demand ahead of Lunar New Year.