Gold Is Down to $1,218 Per Ounce

Now that the books have closed on November, we can see that it was the third-straight monthly gain for the S&P 500. The streak may continue. Historically, December has been the second-best month for stocks. The S&P 500 ended last week with its eighth-straight weekly gain. That’s the longest such streak in nearly ten years. This year also looks to be the best year for stocks since 1998. After five years, the stock market has gained an astounding $14 trillion in value.

According to a recent survey from Bloomberg, revenue growth is expected to increase to 4.1% next year which is double this year’s growth rate. Profits are expected to rise by 10%, which means that margins are expected to continue to expand.

But the interesting move today is in gold, which is now at its lowest level since July. Gold is down to $1,218 per ounce. The metal will almost certainly have its first losing year since 2000.

The price of oil has also been under pressure. According to the latest numbers, the U.S. is meeting 86% of its energy needs which is the most in over a quarter of a century. If this keeps up, we’ll soon be the largest oil producer in the world.

Posted by on December 2nd, 2013 at 3:16 pm


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