Gold ends at $1,096.20, up 24.8 percent in 2009

[bemildred]

At the informal spot-market close of $1,096.20 an ounce, gold gained $218 this year, a sum eclipsed in recent history only by 1979's $286 surge -- gains that proved fleeting as bullion relapsed two years later. On a percentage basis gold rose 24.8 percent, short of 2007's 31 percent rise.

After 2008's roller-coaster, this year was one of fairly consistent gains for bullion, favored as a hedge against economic uncertainties after the worst economic crisis since the Great Depression.

Gold hit a record high above $1,220 on December 3 on a combination of renewed central bank interest, worries over paper currencies depreciation and long-term inflation fears due to massive economic stimulus programs.

Central banks played a key role in aiding the rally during a year in which China revealed that it had secretly increased its reserves over the past five years to the world's fifth-largest by buying up domestic production, while India nearly doubled its holdings by buying half of the IMF's stockpile slated for sale.

http://www.reuters.com/article/idUSTRE5BU3LY20091231

[zbdent]

1. Gold speculators seem to be doing what

Oil Speculators did 2007-2008 ... difference now is that there is a (slight) possibility that the speculation may be investigated, should it happen again ...

(but, given the spines of Dems ... emphasis on "SLIGHT" ...)