Gold price jumps back above $5,000 after softer U.S. inflation — what traders watch next
Gold surged more than 2% Friday, lifted by a weaker U.S. inflation print that reignited hopes for rate cuts and pulled bullion out of its slump for a weekly advance. Spot gold traded up 2.1% at $5,022.06 an ounce, marking a 1.2% rise for the week. U.S. gold futures for April settled at $5,046.30, up 2%. Silver didn’t lag, climbing 3.4% to $77.70. “Relief rally,” said independent metals trader Tai Wong, reacting to the CPI numbers.