Gold Hits Two-Year High

In overnight trading, gold hit a new two-year high of $1,373 an ounce.

Spot gold prices rose more than 1% during Asian trading hours to $1,371.40, its highest mark since March 2014, while gold futures for delivery in August delivery climbed as high as $1,373.70 on the New York Mercantile Exchange, before slipping back in Europe's morning to $1,371.90, still up 1% on its Tuesday price. Gold has gained 27% since the start of the year.

Silver futures for September delivery rose even more sharply overnight, climbing 2.58% to $20.42. Silver prices have outpaced gold this year, rising 46% since January.

It is only the beginning.

The largest position in the EPJ Alert model conservative portfolio is and has been in the iSIlver Trust.  In the aggressive portfolio, it is and has been the Market Vectors Junior Gold Miners.

(Past spectacular positioning does not guarantee future positioning will be spectacular.)

-RW