Gold prices dropped for the first time in 4 days as investors sold out of gold before the year end to take advantage of the lastest rally and a 2 week high.
The gold price lost 0.2 % to a low of $1,402.47 p/oz and is currently trading at $1,403.07. Gold gained 1.6 % over the last 24 hrs, the biggest climb since the beginning of December. Gold futures for February delivery on Comex in NYSE fell 0.2 % to $1,403.40 p/oz.
Gold has risen 28 % in 2010, topping out at $1,431.25 p/oz on December 7th, as Europe’s debt crisis and low U.S. interest rates spurred investment into gold. Gold is heading for a 10th consecutive year gain, the longest streak in at least 9 decades.
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