Skip to content
Subscriber Only

Gold Rebounds in New York After Slumping to Cheapest Since 2010

Gold rose from the lowest since 2010 on speculation that the slump may spur purchases. The metal had its worst week since April after Federal Reserve Chairman Ben S. Bernanke said the bank may curb its stimulus.

Prices slid 6.4 percent yesterday, a day after Bernanke said the central bank may start reducing $85 billion in monthly debt buying this year and end the program in 2014. The metal touched $1,268.70 an ounce earlier today, the cheapest since Sept. 16, 2010. Physical demand was “again aggressive yesterday, and overnight, in Europe,” according to Kitco Metals Inc. a precious-metal refiner and research company in Montreal.