Gold Price Recovery

Gold price recovery on friday after a surprising 3% one-day sell off as the U.S. dollar became big pressure. Gold at December delivery was rising $7.60 to $1,727.80 an ounce at the Comex division of the New York Mercantile Exchange. The gold price has traded as high as $1,733 and as low as $1,711.40, while the spot gold price was up $9, according to Kitco's gold index. Gold's strength was entirely due to the change in the U.S. dollar as physical demand was actually $4 lower, predict to Kitco's index. 

 "Gold prices is go to rallying if the situation is resolved and the European Central Bank prints money to assuage everybody. I think volatility is what we are going to be looking for the next several months or so but that after February gold has a bit of a problem."say Jon Nadler, senior analyst at Kitco.com.