Record Gold Prices Spark ETF/ETN (GLD, SLV)

Commodities & Metals

Published: October 6, 2009 9:16 am

Last Updated: April 28, 2020 3:59 am

Gold Image Gold has just hit a new contract high of $1,035.00 on a nominal basis. While this is far short of an inflation-adjusted price compared to the 1980’s highs, this is still a nominal high. The SPDR Gold Shares (NYSE: GLD) are up 1.7% at $101.55 this morning, which is above that old $108.08 high. We have been noting an affiliate of ours who has been calling emphatically for higher gold prices. Yesterday, in a call that was against the US Dollar and against the S&P 500 Index, the call for gold was for a move above the old power band and a surge to $1,200.00 or possibly even higher. Gold’s gains are taking silver and copper higher as well. We have the iShares Silver Trust (NYSE: SLV) up 3.2% at $16.91 in pre-market trading, although its recent high is $17.26.

JON C. OGG
OCTOBER 6, 2009

Get Ready To Retire ^(Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future