The precious metal is living up to its name and then some.
After hitting an all-time high of almost $1,188 an ounce last week, December gold futures closed Monday at $1,181.10, ending a month in which it gained 13%. The monthly performance was the best since November 2008.
The gains weren’t due to a few big days of buying. Instead, gold prices rose in all but three sessions this month, reports Marketwatch.com, which notes that gold futures, up 33% this year, have risen in 17 of the past 20 weeks.
Ongoing weakness in the dollar, central bank purchases and investor sentiment all are playing a role in rising gold prices.
The SPDR Gold Trust ETF (GLD) was recently up 0.5% to $115.63.
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