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Gold’s 10 percent gain in 2011 extends run to 11th year
Posted By aaron On December 31, 2011 @ 10:30 am In Economic Crisis | Comments Disabled
December 31, 2011
(Reuters) – Gold rose 1 percent on Friday, rebounding from losses earlier this week that sent the market briefly into bear territory, and the metal sealed its 11th consecutive year of gains.
Bullion posted a gain of 10 percent for 2011, its smallest annual rise in three years. It remains down 18 percent from a record $1,920.30 set in September, and finished the fourth quarter with its first quarterly loss in more than three years.
Analysts said a rebound rally is possible in the near term but gold is far from retesting all-time highs.
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