Gold reaches new highs. Barrick eliminates all hedges

gold bars

In an unusual move, major gold producer Barrick is no longer hedging gold. This means they expect gold to go much higher. Investors as well as central banks are piling into precious metals – and away from the dollar. Gold and silver are both at or near all-time highs. This may be a bubble, but it’s a long ways from popping, I think.