Gold Rises to Record $1,500
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Gold rose to a record $1,500 per ounce on Tuesday as investors continue to run to the precious metal in order to protect themselves from anticipated inflation and currency debasement.
After trading higher most of the session, gold tapped the psychologically-important milestone twice before backing off. For the time being, this level is providing some resistance.
Tuesday's range on gold has been $1,488.20-$1,500.05.
The move in the underlying commodity has money moving into gold ETFs and stocks.
SPDR Gold Shares (NYSE: GLD) is flat Tuesday after trading lower earlier. Market Vectors Gold Miners ETF (NYSE: GDX) is up 0.5 percent, also lower earlier.
In the miners, Barrick Gold Corporation (NYSE: ABX) is up 0.7 percent, Goldcorp Inc. (NYSE: GG) is up 1.2 percent, and Newmont Mining Corp. (NYSE: NEM) is up 0.8 percent.
After trading higher most of the session, gold tapped the psychologically-important milestone twice before backing off. For the time being, this level is providing some resistance.
Tuesday's range on gold has been $1,488.20-$1,500.05.
The move in the underlying commodity has money moving into gold ETFs and stocks.
SPDR Gold Shares (NYSE: GLD) is flat Tuesday after trading lower earlier. Market Vectors Gold Miners ETF (NYSE: GDX) is up 0.5 percent, also lower earlier.
In the miners, Barrick Gold Corporation (NYSE: ABX) is up 0.7 percent, Goldcorp Inc. (NYSE: GG) is up 1.2 percent, and Newmont Mining Corp. (NYSE: NEM) is up 0.8 percent.
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