It wasn't the best week for gold, but it ended with Thursday's plummet halted on Friday. Unusually, gold rose despite a gain in the U.S. dollar. According to this Globe and Mail report, gold rose because of short covering triggered by a rise in crude oil. A Marketwatch report ascribes the respite to options expiration and an ETF-driven technical rebound.
To shift slightly, physical gold demand in North America is still rising - and the holiday season is one of the causes. As this Toronto Star article puts it, bars of gold are becoming "the ultimate stocking stuffer."
Speaking of gifts, there's an article on a tradition in Gary, Indiana: a bunch of kids raise money through fund-raisers, buy a gold coin, and drop the coin into a Salvation Army kettle. The child chosen to give it is one who's suffered a personal misfortune in the past year. This year, it was a .1107 troy ounce Austrian "Philharmonic" coin.
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