Friday, December 11, 2009

Gold Hits One-Month Low

Gold futures fell Friday to the lowest level in nearly one month, marking their second weekly loss.

December delivery fell $6.30, or 0.6%, to end at $1,119.40 an ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement since Nov. 13. The contract ended the week down 4.2%.

I see no prospects for sustained strength in the gold price until the Fed starts printing money again. At these prices, gold is the anti-inflation commodity, and there is no significant price inflation on the near horizon.

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