Multi-Day Rally Takes Gold to 2010 Highs

 |  Includes: DGL, GLD, IAU
by: TraderMark

The flood of liquidity is washing over everything and all assets are rising in wonderful harmony. Even gold, which has been lagging this year, has now joined the party. The other precious metals (silver, platinum) are singing in tune as well.

(Please note: I am showing GLD ETF rather than gold itself, since the commodity chart is not real time.) (Click to enlarge)

What I have loved seeing the past few weeks are things like oil rising and airlines rising right along with it - even as their top variable cost crunches potential profitability. No problemo; these banks need to stuff their 0-0.25% money somewhere since the real economy doesn't need much of it. Buy it all, Monday awaits... 52-week highs in airlines as oil goes to $190 surely is a sensible event awaiting January 2011.

Everyone into Bernanke's Ark... the floods are here. Can't wait to hear his Congressional testimony in 2019 on how none of the misallocations of capital were his fault.

Disclosure: Long DB Gold Double Long ETF in fund, no personal position

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