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).

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 rose sharply Friday after the dollar fell in response to Thursday’s meeting of the European Central Bank (ECB).  The euro closed November 30 (last Monday) at $1.0565. Then it shot up to $1.094 (+3.5%) on Thursday, when the ECB lowered interest rates from -0.2% to -0.3% (yes, a negative return on cash). 

Gold rose sharply Friday after the dollar fell in response to Thursday’s meeting of the European Central Bank (ECB).  The euro closed November 30 (last Monday) at $1.0565. Then it shot up to $1.094 (+3.5%) on Thursday, when the ECB lowered interest rates from -0.2% to -0.3% (yes, a negative return on cash). 

Gold fell to a six-year low of $1052 in the middle of last week before opening this week (November 30) at $1065.  Gold seems headed for its third straight down year after 12 straight rising years from 2001 to 2012.