Gold Passes $1,250 (GLD)
The price of gold climbed to yet another record high today with the precious metal boosted by its safe-haven status. Gold hit a two-month high of $1,255.20 dollars an ounce Thursday, another reason to go long on the SPDR Gold Trust (ETF) (NYSE:GLD).
Forget the gold companies, just go with the GLD, it does its best to reflect the performance of the price of gold bullion. The SPDR Gold Trust (ETF) (NYSE:GLD) is up 14% in 2010 and 6% in the last 30 days as major equities have tanked liked no tomorrow.
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(theStreet.com) Gold prices were tentatively higher Thursday as investors held on to the metal ahead of Friday's jobs number. Gold for December delivery was adding $1 to $1,249.10 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Thursday has traded as high as $1,255.20 and as low as $1,245.30.