Friday, April 8, 2011

Gold Price Today Soaring Toward $1,500 an Ounce

The price of gold today has taken off, rising at high as $1,473 an ounce, reaching another all-time high, a phrase we'll hear again and again going forward.

So far this week the price of gold has jumped 3.1 percent, as the U.S. dollar continue to collapse and investors look to tangible assets to place their money.

Silver also made a significant milestone today, surpassing the $40 an ounce mark, another 31-year high for the commodity as well. Silver has gained about 6.3 percent this week.

Barrick Gold (NYSE:ABX) was trading at $54.70, gaining $0.93, or 1.73 percent, as of 11:34 AM EDT. Newmont Mining (NYSE:NEM) was at $58.59, up $0.30, or 0.51 percent. Goldcorp (NYSE:GG) was trading at $54.41, rising $1.22, or 2.29 percent. Eldorado Gold was at $17.86, increasing $0.65, or 3.78 percent.

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