Gold rises; monthly gain biggest since 1999 GDX, AUY

With all this volatility and Gloom and Doom everywhere so easy to forget the big picture: Gold is up during the November 61 dollars or 8.1% to 816.3 and what is more important up year on year 2%. Has Gold overcome finally spell of Forced Selling - we will check the charts later.

NEW YORK (MarketWatch) -- Gold futures edged higher Friday in light trading following the Thanksgiving Day holiday, rising for a fourth straight week and ending the month with their biggest monthly gain in nine years.
Gold for December delivery rose $7.70, or 1%, to close at $816.20 an ounce on the Comex division of the New York Mercantile Exchange. It rose 3.1% this week. In the month, gold advanced 14%, the biggest percentage gain since September 1999.
November's gain followed gold's slump in the previous month. The metal fell 18% in October, the biggest monthly loss since February, 1983.
Gold rose "on safe-haven demand and on the likelihood of further dollar declines with further reductions in U.S. and international interest rates," said Mark O'Byrne, executive director at Gold and Silver Investments.
In gold spot trading, the London gold-fixing price -- used as a benchmark for gold for immediate delivery -- stood at $814.50 an ounce Friday afternoon, up 50 cents from Thursday afternoon.
Holdings in the SPDR Gold Trust, the largest gold exchange-traded fund, stood at 755.06 tons on Tuesday, unchanged for a third day, according to the latest data from the fund. The SPDR Gold GLD 80.31, -0.07, -0.1%) rose 0.3% to $80.61."