Gold Prices Surge

The price for an ounce of gold surged above $700 to settle at $701.50 for the first time in 26 years lifting mining stocks along with it. Shares of Newmont Mining Corp. (NEM) climbed $2.20 to close at $57.93 while the price of investment trust Streettracks Gold Trust (GLD) gained $2.12 to close at $69.68.