After a fairly dull week leading up to Christmas, Gold ended the year with some solid buying as it recovered more than $40 (or 3%) in the final week of the year. This gives Gold its largest annual gain in three years and a record 10th consecutive yearly increase.
2010 has provided a number of events that helped boost the Gold price to its all-time record level of $1430.80, recorded on 7th December. A few events of note include the Eurozone sovereign debt crisis, continuing (and increasing) monetary stimulus, plus the renewed demand from central banks, who have become net buyers for the first time in decades.
It is expected 2011 to herald further increases in the Gold price to fresh record highs as demand for bullion continues at unprecedented levels on both safe-haven demand and physical demand from the likes of India and China.
