Gold Prices Blow Past $1,200

At Everything Gold we recently mentioned gold prices probably wouldn't take too long to surpass the $1,200 an ounce mark, but it happened quicker than we thought, as investors migrated to gold as a safe haven, as equities continue to plunge.

Gold was trading over $1,208 an ounce as of 5:30 EST, only about $10 off its all-time high. It closed today's session at $1,197.30 an ounce. Even that's a five-month high.

So far in electronic trading gold has hit a high of $1,211.90 today.