November gold prices are breaking records!

The run on gold is just steps away from breaking through the $1200/oz mark!

Spot gold hit a price of $1190.20./oz today.

Gold prices have gone up 15% this month as the dollar sits at 15-month-low. The fundamentals are strong as investors pour into the market. Central banks are buying gold in massive amounts. The world’s most successful investors are creating hedge funds devoted to gold. Bank of America/Merrill Lynch released a report this week on expectations of gold hitting $1500. Don’t sit this one out! Even Forbes is now encouraging its readers to “put a little sparkle in your portfolio.”

Gold reached the unheard of record high of $1,173.50 an ounce today, bringing the metal’s gains this year to 33%.  While the dollar’s drop is encouraging investors to seek refuge in gold, it is rising against all other currencies which analysts say reflect a lack of confidence in paper money worldwide.

Investors are jumping into the market on the news of Jon Paulson’s gold backed hedge fund, of which the billionaire will be investing $250 million of his own wealth.

Which would you have bought?

Almost 4 years ago, stock investment advisors at the Motley Fool conducted a poll. They asked their readers if they would rather own a share of Google or an ounce of gold.  Well, the gold price today is $1,138.80  an ounce and a share of Google is sitting at about half of that at $576.28.

Just wanted to write a very brief post about today’s gold prices. Remember, you can always visit our homepage and every subpage of the main website in order to view today’s gold price.