Granted, gold prices haven’t moved as far or as fast some other precious metals and commodities, but its move has been the most noticeable, if only for the metal’s notoriety. Well, today was a kind of milestone, with spot gold prices leaping through the heretofor unbreached $600 barrier. Remarkable stuff.
There is a fascinating factoid in a related article on the WSJ site tonight:
Half of the pension funds, hedge funds and other institutional
investors polled by Barclays in February said they had no commodities
exposure in 2005. Most are now expanding their total commodities
allocation between 1% and 10%.