Gold ETFs Get a Hand fom New Record Price

It’s another day, and gold sets another record, delivering a nice lift to related exchange traded funds (ETFs) in the process.

Jackie Farwell of the Associated Press reports  that today, gold swooped past its all-time record price of $875 set in 1980 and at one point hit $884 an ounce. It finally settled at $880.30.

Adjusted for inflation, though, gold is nowhere near its all-time high. An ounce of gold at $875 in 1980 would be worth $2,115 to $2,200 in today’s dollars. Ouch.

For exposure to the commodity, take a look at:

• streetTRACKS Gold Shares (GLD)
• PowerShares DB Gold (DGL)
• Market Vectors Gold Miners (GDX)

For disclosure, some of Tom Lydon’s clients own GDX.