{"id":17977,"date":"2012-01-01T10:58:00","date_gmt":"2012-01-01T10:58:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-settle-higher-in-final-trading-session-of-2011\/17977\/"},"modified":"2012-01-01T10:58:00","modified_gmt":"2012-01-01T10:58:00","slug":"gold-futures-settle-higher-in-final-trading-session-of-2011","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/gold-futures-settle-higher-in-final-trading-session-of-2011\/17977\/","title":{"rendered":"Gold Futures Settle Higher in Final Trading Session of 2011"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> settled higher in the final trading session of 2011on Friday, as the euro rebounded against the dollar and investors covered short positions a day after the previous metal fell to a six-month low.<\/p>\n<p><span id=\"more-17977\"><\/span><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">Gold<\/a> finished around 10% in 2011, making it the 11<sup>th<\/sup> straight annual gain for the precious metal. However, prices fell nearly 18% after hitting a record high of $1,920.30 an ounce back in September 2011. <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> also posted its first quarterly loss in over three years in the fourth quarter of 2011.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Michael Matousek, Senior Trader at U.S. Global Investor, told Reuters on Friday that gold\u2019s technical set-up since late Thursday could be start of a bullish reversal and a short-term bottom. Matousek further said that it is completely reasonable to be up $100 from here by the end of January or February on technical support.<\/p>\n<p>On Friday, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">spot gold<\/a> rose 1.2% to $1,564.09 an ounce. Despite Friday\u2019s gains, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/gold-price.aspx\">spot gold<\/a> fell nearly 10% in December.<\/p>\n<p>Gold <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">futures<\/a> for delivery in February on the Comex division of the New York Mercantile Exchange climbed $25.90 to settle at $1,566.80 an ounce. Friday\u2019s gains came following six straight sessions of losses.<\/p>\n<p>Although the precious metal rose sharply on Friday, technical factors indicate gold\u2019s momentum has turned bearish. Gold\u2019s 20-day moving average dropped below its 200-day moving average, which is a bearish signal. The brief foray into bear market indicates that gold could see further pullback.<\/p>\n<p>The 20-day moving average fell below the 200-day moving average on Thursday. Technical analysts termed it a \u201cdeath cross\u201d for gold, as short-term momentum has turned more negative than long-term momentum and could show that the current downtrend is pervasive.<\/p>\n<p>Adam Sarhan, Chief Executive of Sarhan Capital, told Reuters that any time there is a death cross, the market is telling that the underlying strength has changed from bullish to bearish.<\/p>\n<p>Sarhan further said that when you start seeing a lot more bearish technical events occurring, more and more short-term traders are inclined to selling their positions.<\/p>\n<p>In 2011, gold had a return of 11%, which is decent considering the volatility in global markets during the year. However, the precious metal underperformed 10-year Treasury s, which returned around 17%, Brent crude, which returned around 14%, and German 10-year bunds, which returned an impressive 31%.<\/p>\n<p>Ole Hansen, Senior Manager at Saxo Bank, told Reuters that we need to see the hot money from speculators, we need to see real money from the money managers coming back to the market. Hansen said that speculators and money managers were absent throughout December.<\/p>\n<p>Gold <a href=\"https:\/\/thestockmarketwatch.com\/markets\/etfs\/today.aspx\">ETFs<\/a> ended higher on Friday, with the SPDR Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GLD\">NYSE: GLD<\/a>) closing 1.10% higher at $151.99, the Market Vectors ETF Trust (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GDX\">NYSE: GDX<\/a>) closing 0.45% higher at $51.43, and the iShares Gold Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=IAU\">NYSE: IAU<\/a>) closing 1.06% higher at $15.23.<\/p>\n<p>For 2011, the SPDR Gold Trust rose 9.57%, the Market Vectors ETF Trust fell 16.33%, and the iShares Gold Trust ETF rose 9.57%.<\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a> dropped in Friday\u2019s trading session. At last check, <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">spot silver<\/a> was down 0.2% to $27.67 an ounce.<\/p>\n<p>The iShares <a href=\"https:\/\/thestockmarketwatch.com\/metal\/silver-price.aspx\">Silver<\/a> Trust (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=SLV\">NYSE: SLV<\/a>) ended the day 0.52% lower at $26.94, the ProShares Ultra <a href=\"https:\/\/stockmarketwatch.com\/metal\/silver-price.aspx\" data-internallinksmanager029f6b8e52c=\"5\" title=\"silver price today\">Silver<\/a> (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=AGQ\">NYSE: AGQ<\/a>) ended the day 1.37% lower at $41.61, and the ProShares UltraShort Silver (ETF) (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>: ZSL) ended the day 0.38% higher at $15.87.<\/p>\n<p>For 2011, the iShares Silver Trust ended 10.74% lower, the ProShares Ultra Silver ended 47.53% lower, and the ProShares UltraShort Silver ended 59.6% lower.<\/p>\n<p>Platinum rose 2.3% to $1,398.80 an ounce in Friday\u2019s trading session, while palladium rose 4.2% to $650 an ounce in Friday\u2019s trading session.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-in-red-in-late-trading-5\/19720\"><br \/>\nStocks in Red in Late Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-extend-gains-in-mid-day-trading\/19715\"><br \/>\nGold and Silver Prices Extend Gains in Mid-Day Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-pare-early-gains-4\/19711\"><br \/>\nStocks Pare Early Gains<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/ultratech-delivered-record-levels-of-net-sales-and-net-income-in-the-fourth-quarter-and-the-year\/19707\"><br \/>\nUltratech delivered record levels of net sales and net income in the fourth quarter and the year<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/sandy-spring-bancorp-increased-loan-growth-even-in-the-face-of-volatile-financial-markets\/19704\"><br \/>\nSandy Spring Bancorp &#8211; Increased loan growth even in the face of volatile financial markets<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/deluxe-corporation-second-consecutive-year-of-revenue-growth\/19701\"><br \/>\nDeluxe Corporation &#8211; Second consecutive year of revenue growth<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/the-laclede-group-high-levels-of-customer-service-and-operating-efficiencies\/19699\"><br \/>\nThe Laclede Group &#8211; High levels of customer service and operating efficiencies<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures settled higher in the final trading session of 2011on Friday, as the euro rebounded against the dollar and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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