Today's Gold Prices Flirt with $1,200

Almost everything happening in the world today lends itself to gold continuing to rise, and even when traders and speculators enter the market (or leave it) like they did last week, the strength of gold is such that even now it's poised to resume its upward run, as gold prices today close just beloew $1,200, and have surpassed it in after-hours trading.

With the end of the recession nowhere in sight, sovereign debt crisis in Europe, China dealing with inflation, and now the psychotic North Korean leaders rattling their sabers again, this time beyond what they've done in a long time, gold is becoming the place to be, and those companies connected to the gold market, like gold miners and ETFs, etc, will continue to rise, as the only surety we have now is that there will continue to be volatility across all of life, which makes gold the only reliable source of safety left for people to put their money in.

Once gold breaks $1,200 an ounce again, there shouldn't be much resistance to it approaching its previous high, and test the $1,250 mark again.

The only thing that kept it from soaring past that already was the covering of positions speculators did last week, which made them sell off their gold assets in order to do that, as well as some taking profits as well from the prior runup in prices. Absolutely nothing has changed since then, and economic and geo-political situations are even more concerning in the last few days, with Spain taking over their first bank in the country over the weekend, reinforcing the legitimacy of concerns over the region.