Gold Approaches $1,000 (GLD)

Gold continues to be a hot topic in the world of exchange traded funds as the price approaches $1,000 and the all time high.

In the article Gold Is Flirting With $1,000, Again; ‘There’s No Sign of the Market Tiring’, WSJ reporters Matt Whittaker and Allen Sykora write that a flight to safety by investors fleeing stocks coupled with a move past certain technically important price points propelled gold to the highest settlement since July 22. Gold is now just 5.9% from its Comex record close of $1,003.20 hit March 18, 2008.

SPDR Gold Shares (Ticker: GLD) closed at $92.29 yesterday, up from $90.21 or 2.3% on the day. The $28 billion ETF carries an expense ratio of 0.40%.

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