GOLD $1,000

china gold bar

After flirting with the (completely meaningless and psychological) number all last week, it finally happened. Gold broke $1,000.

December futures surged to over $1,004, due to, well, take your pick of typical reasons: a) jewelry buying in India b) China diversifying away from Dollars c) Inflation fears d) all of the above.

The metal is now up 14% on the year.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.