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Gold Down 9% This Year

Gold Down 9% This YearGold Down 9% This Year

Gold rose on Thursday, snapping two days of losses. Spot gold rose 0.4% to $1,074.70 an ounce, after losing 0.7% in the last two sessions. US gold futures for February delivery rose $5.90 to $1,074.20 an ounce, Reuters reported. Many financial centers were shut early on Thursday and will stay closed on Friday for the Christmas holiday. Some will remain shut on Monday. Bullion prices have shed 9% so far this year, a third year of losses, mostly due to expectations the US Federal Reserve would raise interest rates, which it did this month.

Financialtribune.com