As proof that the economic environment has calmed in Europe, Frederick pointed to the fact that bond yields in Italy, Spain and Greece have all come down. He added, though, that the eurozone is still a long way from solving all its problems.
Gold investors may be looking ahead to next week when the Federal Open Market Committee -- the policy-making wing of the
Federal Reserve -- makes its latest forecasts on Dec. 11.
Gold mining stocks were mostly higher Friday. Shares of
(GG - Get Report) was adding 1.3%, while
(AEM - Get Report) was up 0.81%.
Among volume leaders,
(KGC - Get Report) was gaining 0.62%, and
(ABX) was up 0.39%.
SPDR Gold Trust
was increasing 0.26%, while
iShares Gold Trust
was adding 0.30%.
-- Written by Joe Deaux in New York.