Gold opened 2016 with a $20 rise on Monday morning.  The London pm gold price fix was $1082.25, up $20 from their last London setting of 2015, at $1062.25.  In New York, gold reached $1084 before retreating and then staging another rally.  At the same time, the Dow Jones Industrial Average was falling over 400 points on Monday’s opening, ostensibly over fears about China and the Middle East, but also hurt by the slow growth of the U.S. economy, combined with a recent interest rate increase by the Fed.

Gold rose $28 in a “Santa Claus” rally.  Gold reached a low of $1049.40 on December 17, the day after the Federal Reserve finally raised interest rates by 0.25%, but in the next seven days, gold rose to $1077 on Christmas Eve. On Monday, December 28, however, gold retreated to $1070. With just a few days left in 2015, gold will almost certainly end the year down, but gold and silver performed far better than most other commodities.  (We’ll have the final 2015 accounting of gold and other commodities next week.)

Gold rose $28 in a “Santa Claus” rally.  Gold reached a low of $1049.40 on December 17, the day after the Federal Reserve finally raised interest rates by 0.25%, but in the next seven days, gold rose to $1077 on Christmas Eve. On Monday, December 28, however, gold retreated to $1070. With just a few days left in 2015, gold will almost certainly end the year down, but gold and silver performed far better than most other commodities.  (We’ll have the final 2015 accounting of gold and other commodities next week.)

Gold recovered from a Thursday low beneath $1050 to close the week at $1067.  Last Wednesday, the Federal Reserve finally raised interest rates 0.25%, after seven years of near-zero short-term interest rates.

Gold recovered from a Thursday low beneath $1050 to close the week at $1067.  Last Wednesday, the Federal Reserve finally raised interest rates 0.25%, after seven years of near-zero short-term interest rates.

Gold (and stocks) suffered a slow decline last week.  The S&P 500 stock index fell 3.8%, while gold fell only 0.6% (basis London close).

Gold (and stocks) suffered a slow decline last week.  The S&P 500 stock index fell 3.8%, while gold fell only 0.6% (basis London close).

Gold (and stocks) suffered a slow decline last week.  The S&P 500 stock index fell 3.8%, while gold fell only 0.6% (basis London close).

Gold (and stocks) suffered a slow decline last week.  The S&P 500 stock index fell 3.8%, while gold fell only 0.6% (basis London close).

Gold (and stocks) suffered a slow decline last week.  The S&P 500 stock index fell 3.8%, while gold fell only 0.6% (basis London close).