Gold ETF Hits New High as Gold Approaches $700/Ounce

Gold rallied to a fresh nine-month high on Friday, inching towards the key $700 an ounce level as investor interest in metals continues to increase. The StreetTracks Gold Trust ETF (GLD) is one of the purest ways to invest in spot gold.

Silver also hit a fresh nine-month high of $14.58 an ounce, platinum touched a new three-month high at $1,236 and palladium saw $354, its highest since September 6. The silver ETF, iShares Silver Trust (SLV) was up 2.5% on Friday.

Spot gold was at $686.40, the highest since May 19. Late in New York on Thursday it was at $677.30. Gold has gained more than 12 percent since hitting a two-month low of $601.70 on January 5.