Gold Futures Post 11.0% Monthly Loss, But 8.5% Gain in Q3

Gold capped off its worst month since the depths of the 2008 financial crisis on a slightly positive note.

COMEX gold futures, per the December contract, advanced $5.00, or 0.3%, to $1,622.30 per ounce.  In doing so, the yellow metal cut its loss in Septmeber to 11.0% – its worst month since a 17.4% plunge in October 2008.

Despite gold’s worst month in 23, the yellow metal still rose 8.5% in the third quarter of this year.  Along the way, gold futures reached several new all-time record highs – culminating with a $1,923.70 print on September 6, 2011.

In contrast to gold, silver futures turned lower on Friday.  COMEX silver for December 2011 delivery fell $0.45, or 1.5%, to $30.07 per ounce.  For the month, gold’s sister precious metal plummeted 27.3%, and by 14.1% in the quarter.