Commodities & Metals
Gold Challenging Highs Again, Silver Shines Over Gold (GLD, SLV)
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SPDR Gold Shares (NYSE: GLD) is ready for another day of gains if this morning strength holds, and the current price of $1,414.55 is going to be crucial to watch for investors. A month ago gold broke above $1,420.00 on an intraday basis but the shiny yellow stuff did not close up there.
Silver is up $0.559 at $29.83 as investors play catch-up on silver against gold.
Last week we saw Goldman Sachs raise estimates for 2011 and 2012 for gold, oil, and the economy in general.
SPDR Gold Shares (NYSE: GLD) is trading up $0.06 at $138.13, while iShares Silver Trust (NYSE: SLV) is trading up 1.7% at $29.10. In equity terms that would be a pairs trade. In commodities, that is an arbitrage bet.
JON C. OGG
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