(RTTNews) - The price of gold was rebounding Friday morning as the U.S. dollar was struggling to hold on to its recent gains.
Gold for February delivery, the most actively traded contract, added $28.80 to $1,569.70 an ounce. Yesterday, gold extended losses for a sixth straight session to dip near its 6-month low as a batch of positive economic news form the U.S. helped bolster equities while reducing the sheen of the precious metal as a safe haven.
Though the yellow metal is down nearly 20 percent from a record $1,920 hit in September, it rose about 10 percent in 2011, after 10 straight annual gains.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,254.57 tons.
Meanwhile, the U.S. dollar was little changed versus a basket of currencies. The buck was hovering around its yearly high versus the euro and a 6-month high against sterling. The dollar moved back to a two-week high versus the Swiss franc, while ticking lower against the yen.
In economic news from the euro zone, house prices in UK dropped 0.2 percent month-on-month in December after marking a 0.4 percent growth in November, the Nationwide Building Society said. Economists had expected house prices to remain flat in December.
Elsewhere, the prices of silver and platinum were moving higher in morning deals.
