Yee-haw! There is a new gold rush occurring right now as investors are running to gold-focused exchange traded funds (ETFs) and gold shares.

E.S. Browning for The Wall Street Journal reports that since mid-August, New York gold futures have risen 42%. Monday’s record of $927.10 only further underscores the metal’s popularity. The peak was surpassed in later electronic trading yesterday after the Federal Reserve cut target lending rates sending the dollar, gold’s biggest competitor, down.

A different type of investor is seeking gold, and powering its rise. Mainstream investors, and money managers who once denied it now have faith in it. Investors are hoping that by adding gold to their portfolios, it will help soften the blows of inflation, recession, lagging dollar and roller coastering stock prices.

Today, there is more optimism in gold. With terrorism, war, lowered U.S. respect, a tech-stock bubble, a real estate bubble, and the emergence of China and India as economic powers, the environment for a gold rush has thrived.

For some gold exposure, check out:

• iShares COMEX Gold Trust (IAU), up 11.5% year-to-date
• streetTRACKS Gold Shares (GLD), up 11.6% year-to-date
• Market Vectors Gold Miners (GDX), up 11.4% year-to-date

Tags: Asia, China, Federal Reserve, GLD, IAU, India, Material ETFs, Metals & Mining, Real Estate, Technology