Gold Price Gains 8.5% In 2016, Silver Up 15.7%

New York (Dec 31)  Gold and silver ended down in Friday trading, but both ended 2016 higher than they started.

Gold gained $89.70 per troy ounce, or 8.46%, to $1150.00, this year.  It’s up $18.00, or 1.59%, this week as well. However gold closed down $6.40, or 0.6% today, is off $20.80, or 1.78% for the month, and lost  $163.30, or 12.43%, this quarter.

Silver gained $2.16 per troy ounce, or 15.69%, to $15.9360 this year. It’s down 22.70 cents, or 1.40%, today, down 47, cents or 2.86%, this month, and down $3.20, or 16.74%, this quarter.

Several analysts lowered their gold forecasts for 2017, although not all gold stocks, citing a tougher investment environment for the metal.

The SPDR Gold Trust (GLD), the VanEck Vectors Gold Miners ETF (GDX), and the Direxion Daily Gold Miners Index Bull 3X Shares (NUGT) were lower in recent trading, as was the The iShares Silver Trust (SLV).  The Direxion Daily Gold Miners Index Bear 3X (DUST) was higher.

Source: Barrons