Gold Rebounds After Ending Worst Year Since 1981


Gold prices started the new year higher Thursday, as the precious metal rebounded from its worst year since 1981.

The actively traded February contract for gold rose $22.90, or 2 percent, to $1,225.20 an ounce. Silver also rose sharply. The March contract jumped 75.8 cents, or 4 percent, to settle at $20.128 an ounce.

Gold fell 28 percent in 2013, as the Federal Reserve said it would start winding down part of its easy-money policies. The Fed’s bond purchases had helped send gold prices higher by getting investors worried about inflation.

In other metals trading, platinum for April delivery rose $30.80, or 2.2 percent, to $1,404.60 an ounce. Palladium for March delivery rose $11.95, or 1.7 percent, to $730.25 an ounce.

Copper for March delivery fell 1.5 cents, or 0.4 percent, to $3.3815 a pound.