Gold Challenging Highs Again, Silver Shines Over Gold (GLD, SLV)
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…
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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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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.