Gold jumped again today, hitting an all-time high, with COMEX futures for delivery in December up $18.50, or 1.6%, at $1165.30. Is it a sign of a top? Bear in mind that Gold would have to reach $2,287 to match its inflation-adjusted high. The FT mentions that Merrill Lynch analyst Michael Widner says gold could go to $1,500 in the next eighteen months. The article also mentions that despite hoarding of gold by central banks around the world (India and Russia in particular), demand from Jewelers is at risk given high prices of bullion. Indices and gold miners didn’t rose as well. The SPDR Gold Trust ETF (GLD) rose $1.42, or 1.3%, to $114.36, the Market Vectors Gold ETF (GDX) rose $1.08, or 2%, to $51.90, and Barrick Gold (ABX) rose 10 cents to $44.10.
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