Gold price jumps back toward $5,000 as cooler U.S. CPI revives Fed cut bets
Gold jumped 1.4% to $4,987.59 an ounce Friday after U.S. January CPI rose less than expected, reviving rate-cut bets. Treasury yields slipped and the dollar was steady. ANZ raised its Q2 gold forecast to $5,800. In India, gold traded at a discount as buyers paused, while Chinese demand held ahead of Lunar New Year.