Gold finished the day, the week, the month and the year solidly in positive territory.
On the day, it was up $8.12 or .6%
On the week, it was up $28.35 or 1.02 %
On the month, it was up $28.16 or 1.02%
And. . . last but not least, on the year it was up $152.00 or 13.2%.
Closing price: $1302.90
Silver also finished the day, the week, the month and the year in positive territory, but not quite as spectacularly as did gold.
On the day, it was up 7¢ or .4%
On the week, it was up 55¢ or 3.4%
On the month, it was up 54¢ or 3.2%
And. . . on the year, it was up $152.00 or 6.4%.
Closing price: $16.92
For gold, it was the best year since 2011, the second straight year of posting gains and one that evolved despite a strong stock market, the constant threat of rising interest rates and, rightly or wrongly, an optimistic start to the Trump administration in terms of business and finance.
Quote of the Day
“Large speculators have made a record shift in their positioning for the last two weeks. In the latest week, they reduced their net longs by 66,000 contracts after a reduction of ~51,000 contracts the previous week. This group of traders is usually considered trend-followers. The extreme positing by this group may provide a clue to a changing trend. In contrast to speculators, commercial traders and bullion banks have reduced their net short positions in gold. This group of traders is usually referred to as smart money. When this category hits the bottom in short interest, prices usually rise. It has been hailed as an indicator that gold prices could have an advantage as we enter 2018.” – Annie Gilroy, Market Realist