Kitco daily market comment

Well, folks, we made it to the end of another wacky year. A year that was dominated by QE hopes and disappointments, Fiscal Cliff hopes and fears, EU/euro hopes and fears, and Chinese economic hopes and fears.

Good Morning!

Well, folks, we made it to the end of another wacky year. A year that was dominated by QE hopes and disappointments, Fiscal Cliff hopes and fears, EU/euro hopes and fears, and Chinese economic hopes and fears. In other words, more of what we had already seen in 2012 only turned up a notch. Yet, when all is said and done, gold will go out with a much smaller glass of bubbly in hand this year. But, hey, a gain is a gain.

On a PM Fix basis (1/3/12 to 12/21/12), we are looking at a 3.3% gain - not quite what we had been promised when the year started. Then again, we were also promised the end of the world by the Mayans, according to some who will now need to re-learn how to read Mayan texts and imagery. Sometimes, a snake is just...a snake and a river is just...a squiggle of blue on a wall.

Nothing much worth talking about today -we close in a short while. Unless you want to delve into that Cliff thing again. Nah.

Wishing you all the very best in the coming year!

Jon Nadler

(The author is the senior metals analyst - Kitco metals)