Gold Rebounds in London as U.S. Retail Sales Dropped by Record

By Nicholas Larkin

Nov. 14 (Bloomberg) -- Gold rebounded in London as retail sales in the U.S. dropped in October by the most ever, pushing the economy toward the worst slump in decades and potentially boosting bullion's appeal as a haven.

Gold for immediate delivery rose as much as $15.30, or 2.1 percent, to $751.80 an ounce and traded at $747.24 by 1:48 p.m. in London. The metal had earlier dropped as much as 1.5 percent. December futures gained $41 to $746 an ounce in electronic trading on the Comex division of the New York Mercantile Exchange.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net