By Myra P. Saefong
TOKYO (MarketWatch) -- Gold futures climbed by more than $12 an ounce in electronic trading on Globex Thursday morning in Tokyo, bouncing back after a four-session drop of around 8%. December gold was up $12.60 at $1,133 an ounce on Globex, after rising to a high of $1,133.90. The climb is "nothing more than a trading bounce from hitting $1,115," said Ned Schmidt, editor of the Value View Gold Report. The price of gold "will not be done going down till it looks like it will never go up," he said. December gold closed at a nearly one-month low of $1,120.40 on Wednesday in New York.
