Gold rebounded on Thursday after a fall to its lowest in three months attracted bargain hunters, helping to lift futures contracts in Tokyo. Spot gold rose to $651.00/651.70 an ounce from $647.20/650.70 late in New York on Wednesday, when it hit a three-month low of $642.90 on a rising dollar and a rally in US Treasury yields.
Key April 2008 gold futures on the Tokyo Commodity Exchange rose 28 yen per gram to 2,595 yen after falling to a 10-week low of 2,556 yen on Wednesday. The euro was flat at $1.3306, while the yen hardly changed after hitting a 4-/12-year high of 122.76 the previous day. Silver inched up to $13.10/13.13 an ounce from $13.07/13.11 late in New York on Wednesday, when it fell to its lowest in three weeks at $12.79. Platinum rose to $1,279/1,284 an ounce from $1,278/1,283 late in New York.