Gold prices fluctuated this week due to mixed economic data. A sharp equity sell-off on Thursday led to a drop in gold prices to $4,915/oz, but rebounded above $5,000/oz on Friday after weaker CPI data. Despite volatility, gold ended the week at $5,025/oz, up more than 2% intraday.

Investors’ unease was heightened by disappointing January Retail Sales and an aggressive US stock market sell-off. However, a strong Jobs Report showing NFP +130K helped stabilize gold prices between $5,010 and $5,080/oz. The market remained relatively inert until Thursday’s flood of selling pushed gold to a low of $4,915/oz.

Thursday’s flash sale led to a spike in volatility, but prices began to retrace losses in the afternoon. By Friday, gold spot climbed over $5,000/oz, driven by expectations of a rate cut following the CPI data. The market continues to anticipate the release of January’s FOMC meeting minutes next week for further insight into the Fed’s stance on inflation targets and rate cuts.

Read more at Yahoo Finance: Gold Whipsaws on Risk-Off Selling, Then Rallies on Cooler CPI