Gold has certainly been an interesting market to watch this year. If you follow the blog regularly, you know we’ve given a fair amount of coverage to the metal’s major fluctuations between all-time highs and rapid sell-offs. One of the things we were watching on the way to new highs was the rate of fluctuations– or how long it took for the price levels to jump certain amounts. The fastest jump we’d seen so far was an 18-day $100 surge between $1600 and $1700 earlier this year. After the price sank rather rapidly at the end of August, how quickly Gold made $100 moves to the upside was sort of a moot point.
But as the Euro Crisis continues to make headlines (and the stock market has rallied), Gold seems to be back to its quick gain ways. Earlier this month, it took 22 days for gold to climb from $1600 to $1700. While this seems pretty close to that 18-day rate we saw earlier this year, the surge looks to be ramping up to even faster speeds as people grapple with the reality of the Euro Crisis and its impacts on financial institutions stateside. As of this post, prices were at $1791.70, up 2.03% today alone. If we close above $1800 today, the jump from $1700 to $1800 will have only taken eight days.
We’ll be watching Gold’s dizzying ascent closely. And as always, if looking for the efficient way to get Gold exposure – read here.