Gold prices surged Tuesday above $700 an ounce — a level not reached
since 1980 — as funds bought into the market, driven by weakness in
the dollar, political tension in the Middle East and overall upward
momentum in the commodities markets. (AP story)
The StreetTRACKS Gold Trust (GLD) and iShares COMEX Gold Trust (IAU) were both up over 3% with today’s move.
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.