Gold Surges $25, Reasons?
Take a look at the Streettracks Gold Strust (GLD) and you will find the fund has run up very nicely over the last hour and a half; that is because gold is up 25 points out of no where! Should we speculate and say that this run is unaccounted for? NO, I say it is legit, and there is something going on here we just are not aware of yet. My guess is that it is something geopolitical. I read today about Iran “Reducing it’s dollar reserves to bare minimums”, and perhaps this ties into the picture somehow.
Regardless, keep a close eye on this action, as Silver also now has been on the move, with the Ishare Silver Trust (SLV) up nearly 3.5% today and actually has broke out past $142. GLD is trading currently at a realtime last of $67.47, and has a high on the day of $67.71.
