Gold continues 2014 run higher

|By:, SA News Editor

Up another 1% this morning, gold takes out a new high for the year at $1,275 per ounce (about 6% higher than it started 2014). A possible catalyst today is the reopening of China's markets after having been closed since January 31 for the Lunar New Year.

Looking ahead, there's tomorrow's Congressional testimony from Janet Yellen - her first appearance in front of lawmakers since taking the Fed reins from Ben Bernanke. Plenty of weak macro data has boosted the yellow metal this year, but look for a quick retreat if Yellen is more upbeat about growth than the recent (maybe weather-related) numbers suggest.

GLD +0.6%, IAU +0.6%.

ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DGZ, AGOL, GLDI, DGLD, TBAR, UBG