Reuters reports that the yellowish metal has gained more than 1 percent in early trading. Some attributed the renewed interest to greater acceptance of risk from investors with last year's numbers already in the book.
"Everyone is a bit more optimistic at the beginning of the year," Ong Yi Ling, an analyst at Phillip Futures, told Reuters.
Over the past year gold has seen dramatic swings, making it act more like a commodity and less of a safe haven as in previous years.
Reuters reports that gold has also developed a strong connection with the euro as investors have fled the 17-nation money piece in response to the ongoing debt crisis. Because gold tends to rise and fall in the inverse of the dollar, it also bears a correlation with the euro, which rose at the start of the year.
As of 9:20 on Monday, January 3, gold had risen $25.60 to $1,592.40 per troy ounce, an increase of 1.63 percent.
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