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Gold Back To $1000?

If you’re looking for a precious metals trade, it looks like all that glitters, is in fact, gold.

Gold jumped 3 percent to a 6-1/2 month high on Wednesday as risk aversion prompted investors to buy gold and bullion-backed exchange-traded funds as a safe haven.

It’s not unusual for investors to put money in gold when there’s a lot of uncertainty in the market, but the on Wednesday prices pushed through an important technical level – they pushed through resistance just above $930 to reach a peak of $944.30.

What’s the trade now?


Pete Najarian

Although they usually trade in tandem, "if you compare the gold ETFto the gold ETF you’ll currently see a bit of separation. I think there’s room in the minersto the upside as they close the gap," says the Pit Boss

Joe Terranova

"As anxiety of currency risk goes up all around the world, gold should go up too, says the Liquidator. However of all the precious metals I prefer silver.

Guy Adami

"The pennant formation in the chart of the gold commodity suggests to me that gold should keep going higher from here, says the Negotiator.

Tim Seymour

If you're looking for a precious metals play I’d look at platinuminstead, counsels the Ambassador.