Gold (GLD) On The Fast Track to $1000!

After seeing a sharp move higher in Gold this morning, the precious metal continues to ramp higher as it makes its trek back to the key $1000 per once psychological level. Gold is up $22 per ounce today to $979.50. Top gold ETF SPDR Gold Shares (NYSE: GLD) is up 2.1% to $95.91.

Some are calling today's break-out a technical move as the backing-and-filling price action of the past year is finally coming to an end.

As the debate between deflation and inflation rages on, Gold has held strong. This to me suggests that your money should be on the inflation side, although everything points to the contrary.

The move in the commodity is also helping the miners, as represented by the 7% move higher in the Market Vectors Gold Miners ETF (NYSE: GDX), which seeks to replicate the price and yield performance of the NYSE Arca Gold Miners Index. Top holdings of the index include Barrick Gold (NYSE: ABX), Goldcorp (NYSE: GG, Newmont Mining (NYSE: NEM), Kinross Gold (NYSE: KGC), and Yamana Gold (NYSE: AUY).

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