"Gold futures closed over $530 an ounce Friday, up almost 5% for the week as strong physical demand, inflation concerns and central-bank buying lifted prices for a seventh-straight session to their highest level in almost a quarter century" (Marketwatch)
iShares COMEX Gold Trust (IAU) and streetTRACKS Gold Shares (GLD) are up over 12% in the last month.
Gold has rallied sharply in recent months, adding over $30 since the end of November, amid robust demand for jewelry in China and India, buying by central banks, notably Russia, and inflation concerns that have been fueled by a surge in energy prices.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.