Gold closes higher, posts 23% gain for the year

[zengrifter]

Gold closes higher, posts 23% gain for the year

By Ciara Linnane, MarketWatch
Last Update: 4:44 PM ET Dec 29, 2006

NEW YORK (MarketWatch) - Gold futures closed the final trading session of the year on a positive note Friday, chalking up a fifth straight day of gains and adding 23% in 2006.

Gold for February delivery ended up $1.10 at $638 an ounce on the New York Mercantile Exchange, finding support in the dollar's mixed performance against major rivals.

"Trading activity slowed considerably in the final hours of 2006, as traders took stock of another exciting year in precious metals," said Jon Nadler, investment analyst at bullion dealers Kitco.com.

...more - http://www.marketwatch.com/news/stor...&dist=moreover

[Brutus]

The Chinese govt has been threatening to liquidate their dollars.
but into what?
Euros... and gold.
this can only escalate demand and drive prices higher.