Are we going to see gold hit $600?
Gold hit a 25-year peak while silver rose to a 22-year high as fund managers turn to commodities.
Gold climbed to $580.25 an ounce, the strongest since January 1981. Silver has soared by 66 percent in the past 12 months, while gold and
platinum have jumped by 36 percent and 27 percent respectively during
the same period.
Spot silver jumped to $11.50 an ounce, the highest since September
1983, and was last at $11.37/11.40, supported by speculative buying on
hopes that an exchange-traded fund (ETF) will soon be launched. There are currently two ETFs that invest in gold: StreetTracks Gold Trust (GLD) and iShares Comex Gold Trust (IAU).
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.