Gold Keeps Hitting New Highs Today, And Stocks Are Diving

Gold keeps making new highs today as the stock market sells off.

A few minutes ago, the metal hit $US1424 an ounce, but has since backed off slightly to $US1420, up 1.9% on the day.

Meanwhile, the Dow Jones Industrial Average is down 110 points, or 0.8%.

The last time gold was trading at these levels was in early May, when it was on the way down.

Since bottoming out at $US1179.40 on June 28, the metal has rallied more than 20% to today’s prices.

The chart below shows trading in gold in 2013.

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