Wednesday, September 16, 2009

Three Factors Are Driving Gold Above $1,000

1 oz (Troy ounce) of fine gold

Image via Wikipedia

Gold futures surged to $1,013 an ounce last week, the highest closing price on record and the first above $1,000 since February. The advance resulted in another weekly gain with gold prices having climbed for four straight weeks. SPDR Gold Shares (GLD), a huge ETF that holds more gold than many nations have in their reserves, has seen its assets climb toward $35 billion, just shy of a record set in June. Many market watchers and stock analysts are still bullish on this most precious of metals, but there is divided consensus on what is driving the price so high. Here are the three factors that could be contributing to the current and potential future rise in gold prices (and why you should consider it for your investment portfolio):

Three Factors Are Driving Gold Above $1,000 -- Seeking Alpha

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