Gold ends up having its second highest monthly close… ever
After the dust settled on the topsy-turvy month that was November gold ending up having its second best monthly close ever, finishing the month at $1748.
Gold price Monthly chart $:
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Gold price Monthly chart £:
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In £ terms gold has be performing even stronger, just highlighting the sheer amount of month printing by the BoE. The monthly close in £ terms was nearly an all time record closing at £1113 – the previous record monthly close was £1124 back in August.
Clearly the underlying strength in gold is very much in tact even after the drop in September. Gold has really steadied itself and that upward sloping trend-line is very clear for all to see.
We now head into the final month of the year which has been traditionally a strong month for gold. It would not be surprising in the slightest to see gold close out December at an all time closing high in terms of £s and once again claim title to the best performing asset on the planet for over a decade.
Related posts:
- Detlev Schlichter on Sky News: We are getting close to the collapse of paper money
- Silver will be looking to close above $32.2 this week
- Gold price still trying to breakout
- The BoE needs 43% annualised deflation just to meet its 2% target rate
- UK Government Borrows £17.4bn last month – Debt to GDP now 151.4%
Link to this article: : http://www.goldmadesimplenews.com/gold/gold-ends-up-having-its-second-highest-monthly-close-ever-5809/
Posted by Jason Cozens on Dec 1 2011. Filed under Analysis, Gold News, Markets.
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