Go Finance Report - Gold prices could rebound after fluctuating in earlier trading. This is encouraged by the results of Spanish and Italian bond auction that makes concern about the debt crisis in Europe a little abated.
As quoted by Reuters on Friday (01/14/2011), the spot price of gold rose $ 2, 15 to USD1.374, 9 per ounce. Meanwhile, the price of gold futures for February declined USD12, 2 to USD1.374, 8 per ounce.
Fund world's largest gold exchange-traded SPDR Gold Trust supported, said its shares fell to 1265.093 tons on Jan. 13 from 1271.467 tons on 11 January.
Rebound in gold prices is due to exchange rate appreciation in the euro exchange rate against the dollar in the last six months and the successful auction of bonds Spain and Portugal. In addition, Japan's Nikkei index decreased by 0.5 percent in early trading today. (GoFinance)
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