Gold Poised To Take-Out All Time High (GLD, GDX)

With the EU monetizing the debt of Greece, investors are flocking to Gold and Silver on fears of the devaluing of fiat currencies which could lead to rampant inflation. In addition, the nearly $1 trillion Eurozone rescue package may not be enough to stem debt contagion fears.

Gold is now poised to take out its all time high of $1226.56 hit last December. Gold for June 2010 delivery last traded at $1,221.80 today on COMEX. Spot gold last traded at $1220.30.

Silver is also higher. Silver for July 2010 delivery last traded at $19.06, up $0.50 from the prior settlement.

Related ETFs and Stocks:

• SPDR Gold Shares (NYSE: GLD)
  
• Market Vectors Gold Miners ETF (NYSE: GDX)
  
• Market Vectors Junior Gold Miners ETF (NYSE: GDXJ)
  
• Physical Swiss Gold Shares (NYSE: SGOL)
  
• Barrick Gold Corporation (NYSE: ABX)
  
• Goldcorp Inc. (NYSE: GG)
  
• Newmont Mining Corp. (NYSE: NEM)
  
• Yamana Gold (NYSE: AUY)

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