Gold Extends Longest Streak Since 1920 on Central-Bank Stimulus
By Nicholas Larkin & Debarati Roy
Dec 31, 2012
Gold rose, heading for a 12th straight annual gain, on renewed concern that central banks from Europe to China will take steps to spur economic growth while U.S. lawmakers near a budget deadline.
Gold for immediate delivery added 0.4 percent to $1,661.88 an ounce at 11:16 a.m. in New York, extending this year’s climb to 6.3 percent. Prices before today slumped for five straight weeks as the deadline for the so-called fiscal cliff of automatic tax increases and spending cuts due to take effect tomorrow loomed with no accord in sight among lawmakers.