Gold Rebounds for Higher Close

Updated from 11:24 a.m. EST

Gold futures overcame a slow start and a firmer dollar to end trading modestly to the upside Friday.

April delivery bullion contracts climbed $1.40 to $672.80 an ounce on the Comex division of the New York Mercantile Exchange. The PowerShares DB exchange-traded fund (DGL Quote), which follows futures prices, dipped 0.3%.

Despite Commerce Department data showing that housing starts fell much more than expected in January, the news wasn't reflected in a lower dollar. That may be due to a change in the way the market is viewing potential actions by the Federal Reserve toward fighting inflation. ...