Gold and Gold Miners Soar for a Second Straight Day

Gold is up 1.8% to $994/ounce, flirting with its recent high of $1000/ounce. The metal has touched this level several times in the last 2 years, but has failed to break through each time. Gold mining stocks best measured by the Gold miners ETF (GDX) is up another 6% today on top of the 9.5% increase yesterday. Some see this sharp gold trade as a precursor to a possible positive jobs data surprise tomorrow. If the employment picture is improving it could put upward pressure on inflation.