The Dow Jones Industrial Average gained 6.5% in November. The S&P 500 rose 5.7% and the Nasdaq added 4.9%. The Dow is now firmly perched above the 10,000 mark, closing out November at 10,344.
The weakening dollar and gold’s price gains were the primary themes for the month. Investors sought out gold for inflation protection, investment and jewelry, while the dollar’s weakness only further fueled demand for the metal. SPDR Gold Shares (NYSEArca: GLD) gained 12.8% for the month.
PowerShares DB U.S. Dollar Bearish (NYSEArca: UDN) gained 2.2% in November. The dollar is expected to remain weak for some time, as the Federal Reserve in November signaled that it would keep interest rates low to maintain the current pace of economic recovery.
The real estate sector should get a boost in the coming months, too, as Congress voted to extend the tax credits offered to first-time homebuyers, as well as homeowners looking to “upgrade” from their current homes.
To view our complete November performance report, click here.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.