Gold, the traditional safe haven in times of economic turmoil, proved to be more a commodity that everyone loved to hate last year -- even amid the turbulence that engulfed world markets.
But as 2009 gets under way the yellow metal has found huge traction with money managers.
In the last eight sessions, gold has rallied as much as $100 an ounce to hit a near four-month high of $915.30 on Monday -- in spite of a rising dollar – although it’s pulled back since.
The furious rally stems from expectations that the U.S. government will need to borrow about $2 trillion of debt this year to finance its rescue packages for the battered banking sector. Already, outstanding Treasury debt stood at $5.5 trillion at the end of September.
If you watch Fast Money regularly you know that both Pete and Jon Najarian are bullish on gold. (Click here to read more) In fact Jon Najarian speculated it could climb as high as $1000 an ounce. And during her most recent visit Suze Orman told us she thinks a portion of your portfolio should be in gold. (Click here to read Suze Orman’s Trade )