Gold Close to All Time Highs Near $1,010/ounce (GLD, GDX, ABX)
Posted in: Long Ideas, Movers & Shakers, Specialty ETFs, Intraday Update, Markets, Movers, Trading Ideas, ETFs
Gold again pushed higher today, topping at around $1,010/ounce, up $14.60/ounce or 1.5%. This is also giving a boost to Gold Miners (NYSE: GDX) up 2.2% and Barrick Gold (NYSE: ABX) up 1% for the day.
Barrick recently removed its Gold hedges on speculation that the metal will move significantly higher from current levels.
The Dollar continues to weaken and it is at its lowest in a year, which is one of the main reasons Gold and possibly even stocks have risen to recent highs.
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