PRECIOUS-Gold rebounds from near one-week low; US inflation data in focus

By Ishaan Arora

Feb 13 (Reuters) - Gold rebounded on Friday, recovering from a nearly one-week low in the previous session, as investors await key U.S. inflation figures for cues on the direction of interest rates following robust jobs data.

Spot gold XAU= was up 1.2% at $4,979.49 per ounce as of 0814 GMT, and has gained 0.4% so far this week. U.S. gold futures GCcv1 for April delivery climbed 1% to $4,998.30 per ounce.

"With volatilities as heightened as they are and these big round levels offering ($5,000), you know, sort of indicators of where positioning might be, big breaks certainly accelerate these moves," said Kyle Rodda, senior market analyst at Capital.com.

Gold dropped about 3% to a near one-week low on Thursday, breaking below the $5,000-an-ounce key support line as selling pressure intensified after an equities rout.

"Precious metals came down with equities last night. They didn't really have much of a macro catalyst," Rodda said.

Asian shares retreated from record highs on Friday as worries about shrinking margins in the tech sector hit the likes of Apple AAPL.O. MKTS/GLOB

The yellow metal also came under pressure after data released on Wednesday showed the U.S. job market began 2026 on firmer footing than expected, reinforcing the view that policymakers may keep rates elevated for longer.

Elsewhere, gold flipped to a discount in India this week for the first time in a month on subdued demand as volatile prices deterred buying, while the Chinese market saw robust demand as it heads into the Lunar New Year holiday. GOL/AS

Spot silver XAG= climbed 4.6% to $78.59 per ounce, rebounding from an 11% drop on Thursday, though it remained on track for a weekly gain of 0.7%.

Spot platinum XPT= added 1.7% to $2,033.99 per ounce, while palladium XPD= rose 2.8% to $1,661.97. Both metals were set to notch weekly losses.