Golden Age Hits All-Time Highs as Gold Closes Above $1,400/ounce
On the most simplest level, the current zero interest policy continues to rattle currencies and continue the rising tidal wave in precious metals. Gold (GLD) continues to reach record levels. Today, Gold surpasse $1,400 with ease. At the end of September, our expert Chartered Market Technician, Jordan Roy-Byrne, wrote a very popular article titled, ‘Don’t Get Shaken Off the Gold Bull.’ If you’re wondering about the long-term possibilities for Gold, look no further than his article. Anything is possible. Following the Fed’s announcement of its $600 Billion asset purchase program and the clarity of election results, World Bank President Robert Zoellick kicked off this week with his call for a gold standard in a relatively shaky currency environment. A liquid way to play gold is with the SPDR Gold Trust (GLD):
With Gold hitting higher highs today, Silver (SLV) is also sparkling with newly important trading targets in sight.