Gold Busts Through $1400
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Gold futures and spot gold have both crossed above the record $1400 level in mid-day trading today.
December gold last traded at $1402, up $4.30. Spot gold last traded at $1401.40.
The move in the precious metal follows last week's QE2 announcement from the Fed which will includes an additional $600 billion in treasury purchases.
Gold bulls have been getting long the yellow stuff through ETFs like SPDR Gold Shares (NYSE: GLD), iShares COMEX Gold Trust (NYSE: IAU), and ETFS Physical Swiss Gold Shares (NYSE: SGOL).
Or the miners like Goldcorp (NYSE: GG), Newmont Mining (NYSE: NEM), Kinross Gold (NYSE: KGC), Barrick Gold (NYSE: ABX), AngloGold Ashanti Ltd. (NYSE: AU). There are also the mining ETFs -Market Vectors Gold Miners ETF (NYSE: GDX), Market Vectors Junior Gold Miners ETF (NYSE: GDXJ).
December gold last traded at $1402, up $4.30. Spot gold last traded at $1401.40.
The move in the precious metal follows last week's QE2 announcement from the Fed which will includes an additional $600 billion in treasury purchases.
Gold bulls have been getting long the yellow stuff through ETFs like SPDR Gold Shares (NYSE: GLD), iShares COMEX Gold Trust (NYSE: IAU), and ETFS Physical Swiss Gold Shares (NYSE: SGOL).
Or the miners like Goldcorp (NYSE: GG), Newmont Mining (NYSE: NEM), Kinross Gold (NYSE: KGC), Barrick Gold (NYSE: ABX), AngloGold Ashanti Ltd. (NYSE: AU). There are also the mining ETFs -Market Vectors Gold Miners ETF (NYSE: GDX), Market Vectors Junior Gold Miners ETF (NYSE: GDXJ).
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