What's Gold Doing Today?

Gold stocks surged on Thursday after the Fed's Janet Yellen hinted that negative interest rates could be a possibility - in theory at least."We haven't finished the evaluation," Yellen said during a questioning period on Capital Hill. "I wouldn't take [them] off the table."U.S. gold for delivery in April surged more than 5 percent on Thursday while spot gold gained more than 4.5 percent."Investors are concerned that central banks' solution (is) negative interest rates or at least not raising rates - and that is gold friendly," Matthew Turner of Macquarie told CNBC. " The key risk to gold is that the U.S. economy manages to put in a good performance, like it did last year."Shares of SPDR Gold Trust (ETF) (NYSE: GLD) hit a new 52-week high of $120.83 on Thursday and was higher by more than 4 percent on the day. Investors and traders appear to be more bullish on gold miners rather than the commodity itself as the Market Vectors Gold Miners ETF (NYSE: GDX) gained more than 6 percent.Traders who anticipated a strong move in the gold miners and properly used leveraged ETFs to their advantage saw large gains. Shares of Direxion Daily Gold Miners Bull 3X ETF (NYSE: NGT) were higher by nearly 20 percent. The ETF offers a 3x exposure to the NYSE Arca GoldMiners Index. On the other hand, Direxion Daily Gold Miners Bear 3X ETF (NYSE: DUST) plunged by 20 percent as the ETF offers a 3x inverse exposure to the GoldMiners Index.Mark Cuban: Gold Is A 'Safe Haven'According to CNBC, billionaire investor and entrepreneur Mark Cuban posted on the social platform Cyber Dust that he acquired "a lot" of call options on gold. He suggested that an investment in gold is not a hedge on other investments but investors looking for momentum could push the commodity higher.