Welcome to SurvivalBlog’s Precious Metals Month in Review, where we take a look at “the month that was” in precious metals. Each month, we cover gold’s performance and silver’s performance and examine the factors that affected metal prices.
WHAT DID GOLD AND SILVER DO IN DECEMBER?
Despite enjoying a terrific annual performance, the precious metals fared poorly to close out the year. Gold ended the month down 1% while silver endured another monthly loss in excess of 5%.
The metals started the month trending lower: on Dec. 2nd, spot gold fell about 0.5% to $2,636 per troy ounce, and silver prices slipped 13 cents lower to $30.47 per oz. Silver rose 78 cents over the course of Dec. 3rd and 4th, and then jumped another 88 cents on Dec. 9th to reach its high point for the month at $31.85/oz.
Amid a streak of seven consecutive losing days, silver slumped 4% into the red during trading on Dec.18th. The gold price lost $65 on the same day (-2.4%) to fall as low as $2,580/oz. There was a brief rebound on Dec. 20th, with silver rallying 1.55% higher and gold adding more than 1% on the day.
The week of Christmas saw both metals drift lower but by small increments. Following the holidays, gold fell somewhat sharply on Dec. 30th as it again tested the $2,600 level. To close out trading for 2024, gold settled around $2,620/oz and silver held near $28.80/oz on New Year’s Eve.Continue reading“December, 2024 in Precious Metals, by Everett Millman”