by Justin Spittler
Gold and silver are making fresh new highs.
If you’ve been reading the Dispatch, you know gold has soared this year. It’s up 18%, making it the year’s top performing commodity.
Gold’s big move has triggered an explosive rally in gold miners. The Market Vectors Gold Miners ETF (GDX), which tracks large gold miners, has surged 65% this year. Yesterday, it closed at its highest level since last January.
Silver jumped to $16.16 yesterday, its highest price in almost a year. Silver’s jump has caused iShares MSCI Global Silver Miners (SLVP), which tracks large silver stocks, to soar 69% this year. SLVP hit a 14-month high yesterday.