Gold Up, Near $1,900 Mark as Investors Digest U.S. Inflation Data.

Gold was up on Friday morning in Asia and is set for a small weekly gain. The slightly faster-than-expected rise in U.S. inflation drove investor bets that price pressures will be temporary and central bank support will remain in place.

Gold futures were up 0.33% to $1,902.70 by 1:05 AM ET (5:05 AM GMT), after hitting $1,916.64, the highest intraday level since Jan. 8, 2021, during the previous week.