Gold futures on the COMEX for February delivery closed up 1.4% today, January 20, at $1866.50 an ounce. That’s the highest finished for the most active contract on the futures market since January 7.
Silver for March delivery closed up 1.8% to $25.766 an ounce.
All the talk about the need for a big stimulus program, bigger even than in response to the global financial crisis and the Great Recession, has sent some traders looking for inflation plays.
Today the VanEck Vectors Gold Miners ETF (GDX) closed up 3.36%. And shares of Barrick Gold (GOLD) added 2.4%. Shares of silver miner First Majestic Silver (AG) gained 9.88% on the day.
Barrick Gold, the Gold Miners ETF, and First Majestic Silver are all members of my online portfolios.
Full disclosure: I own call options on the VanEck Vectors Gold Miners ETF in my personal portfolio.
