Gold rebounds from earlier falls GOLD futures rebounded from a three year low on Friday, rising back above the $US1,200 an ounce mark as some investors bet the selling had run its course with trading set to thin out ahead of the end of the year. The most actively traded gold contract, for February delivery, rose $US10.10, or 0.9 per cent, to settle at $US1,203.70 a troy ounce on the Comex division of the New York Mercantile Exchange. During the week, futures fell 2.5 per cent, keeping gold firmly on course for its first annual loss in 13 years. As of Thursday, gold futures prices were down 28 per cent in 2013. As Fed officials this year began signalling a potential reduction of its bond buying may be in the cards, investors have abandoned gold. The latest blow came on Wednesday when the Fed said it would trim its monthly bond purchases by $US10 billion a month, to $US75 billion. But with the weekend on tap, and trading in the US and Europe slowing ahead of the Christmas and New Year holidays, some traders on Friday were closing out bets on lower prices.