Monday, January 26, 2009
People around here (Vancouver, B.C.) were quite excited by Friday's big move in the gold price and the SPDR Gold Shares ETF (NYSEArca:GLD) saw fit to add to their stash, bringing the "tonnes in the trust" to another new all-time high of 832 tonnes.
This marks the sixth new all-time high over the last eight days of trading - a whopping 37 tonnes added just last week.
On Friday, gold made new highs in the euro, the British pound, and the Canadian dollar, something that would probably have escaped my attention if not for being north of the border. Interestingly, they often refer to the U.S. as the "banana republic south of the border".