Weak economic news from Europe, confirming the ongoing weak global economy, has shares of Goldcorp (NYSE:GG), Barrick Gold (NYSE:ABX), Newmont Mining (NYSE:NEM) and Kinross Gold (NYSE:KGC) all moving up with the price of gold.
Gold on the New York Mercantile Exchange reached a record high of $1273.40, jumping $25.90 for December delivery.
A weaker U.S. dollar may have contributed a little earlier in the session, but the price movement of gold shows investors aren't buying into the hype that there is an economic recovery.
Mainstream financial news targets every bit of positive for their man Obama, while lightly covering the economic disaster growing under his administration.
Investors and business know the real conditions, and the ongoing weakness confirms we're a long way from any real recovery, and gold will continue its long bull run in response to those realities.