Tim Iacono writes:
"Up until a short time ago -- that is, before the price of gold jumped nearly $20 an ounce as investors became more hopeful about the U.S. economy, due to a big turnout for Black Friday shopping, and the euro strengthened against the dollar on renewed optimism about a Greek debt deal -- it didn't seem as though it would be worth the trouble to update the graphic below. But now that the price of gold is sharply higher, suddenly it does.
"As shown below, although it hasn't done so in recent years, the price of gold has a history of making big moves on Thanksgiving Day and the Friday that follows when many U.S. traders are away from their desks. If prices remain steady for the rest of the day, it looks as though 2012 will trail only 2005 and 2007 for the biggest two-day gains (i.e., from the Wednesday close until the Friday close). ..." click over for the graph and rest of Tim's piece.
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