Dallas 10/7/2010 3:13:55 AM
News / Finance

Gold Continue to Hit Record Highs (GLD, SLV, GG, ABX)

Gold Hits Record Highs

Gold futures on continue to hit record high for  14th consecutive record high in less than a month, and hit a new record of $1,351 an ounce on the back of a weaker dollar and rising equities. The most-active December contract advanced $7.40, or 0.6%, to $1,347.70 an ounce on the Comex division of the New York Mercantile Exchange.

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SPDR Gold Trust (ETF) (NYSE:GLD) jumped 0.63% to $131.81 and made a record high of $131.86 on hefty volume. The ETF has jumped over 23% so far in 2010.

SPDR Gold Trust (the Trust) is an investment trust. The Trust holds gold, and from time to time, issues SPDR Gold Shares (Shares) in Baskets, in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets.

iShares Silver Trust (ETF) (NYSE:SLV) surged 1.60% to close at its record high of $22.69. So far this year, the ETF has osare dover 37%.

iShares Silver Trust (the Trust) is a grantor trust. The purpose of the Trust is to own silver transferred to the Trust in exchange for shares issued by the Trust (iShares). The objective of the Trust is for the value of the iShares to reflect, at any given time, the price of silver owned by the Trust at that time less the Trust’s expenses and liabilities.

Goldcorp Inc. (USA) (NYSE:GG) climbed 2.50% to $45.18 with over 7.28 million shares, compared to its average volume.

The stock has a 52-week range of $32.84-$47.41. So far this year, the stock has jumped over 16%.

Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operating, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America.

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Barrick Gold Corporation (USA) (NYSE:ABX) surged 2.70% to $48.59 and made a new 52-week high of $48.81.

The stock has a 52-week range of $33.65-$48.81. So far this year, the stock has jumped over 23%.

Barrick Gold Corporation (Barrick) is engaged the production and sale of gold, as well as related activities, such as exploration and mine development. Barrick also produces copper, and hold interests in oil and gas properties located in Canada.

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