Gold gains 30% in 2010,largest in 3 yrs

Gold has gained nearly 30 per cent in 2010,based on Friday’s fixing,marking its strongest annual performance since 2007 and its fifth straight monthly rise in December.

The spot price fixed at $1,410.25 an ounce on Friday morning ,compared with $1,405.50 an ounce at the previous fixing on Thursday afternoon.

Based on the fixings,gold has risen by 29.7 per cent this year,compared with a 28.7 per cent increase in the freely traded spot price,the largest annual rise since 2007,when the global financial crisis unfolded.