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

(Updates prices to Asia session close)

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Gold set for weekly gain of 0.4%

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Silver on track for weekly gain of 0.7%

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Platinum, palladium also poised for weekly losses

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US consumer price index (CPI) data due at 8:30 a.m. ET (1330 GMT)

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 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 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). 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.

The U.S. consumer price index data is ?expected later in the day. Markets are pricing in two 25-basis-point cuts this year, the first ?of those expected in June. Non-yielding bullion tends to do well in low-interest-rate environments. 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.

Spot silver 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 added 1.7% to $2,033.99 per ounce, while palladium rose 2.8% to $1,661.97. Both ?metals were set to notch weekly ?losses. (Reporting by Ishaan Arora; Editing by Rashmi Aich. Sherry Jacob-Phillips, ?Ronojoy Mazumdar and Harikrishnan Nair)