A somewhat forgotten investment had a big day yesterday, on the heels of what has been a big year. The price of gold increased by 3.3 percent on Thursday, marking the precious metal's best one-day performance in nine months, a day after the Fed said interest rates would stay low at least into next year.
Yesterday's rally pushed gold up a total of 9.3 percet so far this year, which means it has had a better 2014 than stocks, bonds and oil. Then again, it had a long way to come back from. The price of gold dropped 28 percent in 2013, for its first yearly drop in 13 years.
Part of this just points up how volatile gold has been in recent years, and how little anyone knows about what direction it's likely to move. Even with the rally this year, gold is still down roughly 30 percent from the record high it reached back in August 2011.
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