Gold ETF (GLD) Hits New YTD High as Gold Approaches $700 an Ounce
February 23rd at 1:21pm by Tom Lydon
Gold rallied to a fresh
nine-month high on Friday, inching towards the key $700 an ounce level as
investor interest in metals continues to increase. The StreetTracks Gold Trust ETF (GLD) is one of the purest way to invest in spot gold.
Silver also hit a fresh nine-month high of $14.58 an
ounce, platinum touched a new three-month high at $1,236 and
palladium saw $354, its highest since September 6. The silver ETF, iShares Silver Trust (SLV) was up 2.5% today.
Spot gold was at $686.40, the highest since May 19. Late in New
York on Thursday it was at $677.30. Gold has gained more than 12 percent since hitting a
two-month low of $601.70 on January 5.
