Gold prices rose on Friday, bouncing back from Thursday's drop. Despite this recovery, the yellow metal is set for a weekly loss due to traders moving toward profit-taking and a generally negative sentiment in the commodities market.
If inflation data comes in lower than expected, gold might rise further while the dollar and Treasury yields could decline. At the same time, traders could continue to monitor gold demand levels in countries such as China and India as well as additional economic data from the region.
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