Gold bounces back on bargain hunting

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as bargain hunting caused a rebound after a two-day decline.
The most active gold contract for December delivery rose 2.7 U. S. dollars, or 0.22 percent, to settle at 1,231.8 dollars per ounce.
Gold futures were supported by safe-haven demand Friday as traders weighed concerns over the increasing number of Ebola cases in West Africa, and the first confirmed case of Ebola in the New York City.
On the economic front, the U.S. Department of Commerce released a report on Friday showing a bump in sales of newly-constructed single-family homes reached an annual, seasonally-adjusted rate of 467,000. Analysts said that this is evidence the recovery is happening, trimming some gold gains.
Silver for December delivery gained 2.4 cents, or 0.14 percent, to close at 17.182 dollars per ounce. Platinum for January delivery lost 4.1 dollars, or 0.33 percent, to close at 1,250.9 dollars per ounce.