Friday, November 28, 2008
Depending upon which closing price you look at, gold either ended the Thanksgiving holiday flat or up a percent or so - not what many were expecting, but not bad.
According to Jon Nadler at Kitco, most of the holders of December futures contracts who did show up at work today rolled them over to the February contract. I'll be on a panel with Jon on Monday morning at the San Francisco Hard Assets Investment Conference, so I'll be sure to ask him for more thoughts on the subject.
I think I already know what he's going to say...
As it was though, November looks like it was a much better month than September or October for all kinds of investments.
Marketwatch reports that gold turned in its best monthly performance since 1999, rising 3.1 percent for the week and 14 percent for the month. It's still down about two percent for the year, but that's pretty good against most things in 2008.