November was another tough month for the majority of assets classes. Gold (+1.7%) and Inflation-Indexed US Treasuries (+0.5%) managed to finish the month in positive territory but all other asset classes fell in November. The worst performing asset class was Foreign Corporate Bonds, losing 5.5% last month.
On a one year basis Gold is head and shoulders above all other asset classes. Over the last twelve months Gold has risen by 25.6%. Emerging markets have been the biggest loser, dropping by 8.8% over the past year.