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Nearby gold futures on the COMEX division of the CME closed at $1523.10 per ounce on December 31. The yellow metal was 3.92% higher in the fourth quarter and moved 18.87% to the upside in 2019. In June, when the US Fed told markets that short-term interest rates would decline by the end of the year and the balance sheet normalization program would end, gold broke out on the upside. The price rose above the post-Brexit 2016 high at $1377.50 per ounce. By early September, the yellow metal reached a high of $1559.80, the highest