Gold Breaks Through For Record High

Amidst economic and political concerns investors ran wildly towards gold and silver today, pushing the spot price of gold as high as $880 before it backed off to $878 as of this posting.

Silver was carried along for the ride, edging up above the $15.70 mark as this is written.

Another day of Dollar dropping must have been just too much for money mavens to stand.

Talk of gold as the worlds currency has been circulating around the internet in Blogs and opinion pieces the last few days and more folks seem to be looking at these comments much more seriously than before. As I have mentioned in past postings, gold will continue to swing opposite against the dollar, so look for gold to back off when the dollar has it's good days and drive when it fails.

Current pursuit of gold as an inflation preemtory hedge seems to be at paranoid levels.