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News / Business / Business Briefs

Gold’s rally stays alive to seal best year since 2010

By Bloomberg News
Published: December 31, 2019, 9:08pm

Gold climbed to a three-month high to clinch its best annual performance since 2010, as a weaker dollar helped cap a year marked by global economic jitters and trade frictions.

Bullion has gained 19 percent this year as central banks globally embraced looser monetary policy to boost growth. Brexit, unrest in regions from Chile to Hong Kong and buying sprees from key central banks and exchange-traded funds have also helped support prices.

Spot gold climbed as much as 0.7 percent to $1,525.38 an ounce on Tuesday, the highest since Sept. 25, and traded at $1,521.20 by 7:35 a.m. in New York. The Bloomberg Dollar Spot Index fell to the lowest since June.

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