New Summary: Gold ends higher for 12th year

Last Updated: Mon, Dec 31, 2012 23:15 hrs

: Gold edged higher as crucial budget talks appeared to near an end. President Barack Obama said an agreement to avoid the U.S. going over the "fiscal cliff" next year was in sight, if not yet complete.

WINNING STREAK: Gold ended 2012 higher and has advanced for 12 straight years. Investors have been buying the metal as a safe haven and a hedge against inflation.

DECEMBER LOSSES: Wheat edged lower, ending the month down almost 10 percent, its worst monthly loss since September last year.

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