Gold Up $88.50 per Ounce

Gold is trading in the 24 hour spot market at $863.20 up $85.50 per ounce.

On news of the 7 day freeze on redemptions of a money market mutual fund, investors are seeking complete safety, gold is soaring and money is pouring into treasury bills. The current yield on 3 month T-blls is 0.558%--the lowest level since 1954.

-EPJ Newsdesk