Gold Decline Slightly Reverses

As futures on the three major U.S. averages rise on hopes for good tidings from the Fed, gold's price is also up after yesterday morning's decline. Spot gold spent the afternoon muddling along in a trading range, which changed to the upside at about 4 AM ET. This MarketWatch report quotes an expert as saying that it's bargain-hunting, and mentions that the greenback's been falling somewhat.

This other report notes that the Euro was pushed up by better-than-expected Eurozone economic data. As I write this post, spot gold's pulled back a little from its near-term high of about US$1,135 to $1130.70.