Gold Is The Ultimate Safe Haven Investment
Today, Gold showed why it is called the ultimate safe haven investment, as the world’s equity markets are dramatically dropping the experienced investors ran for Gold. Gold hit a high of $1,224.50 on massive purchases worldwide, above the key $1,200 and $1,220 resistance levels. At 11am PDT today, Gold is trading at $1,223, up $31.50 (2.6%) on sizeable volume.
Silver moved up with Gold today, but not as I would have expected. Silver reached a high of $14.64 per ounce, well below the important $15 per ounce resistance level. If Gold holds current levels, I would expect to see Silver approach the $15 level. At 11am PDT today, Silver is up $0.24 per ounce, trading at $14.57 on good volume.