Monday 14th January 2008: 9.44 p.m.
Gold is buzzin' today! The London AM and PM Gold Fixes were $911.50 and $902.00, a new record in the morning again. Silver is clearly over $16.00, $16.36 as I write. In Sterling, spot market gold is at £461.94 (US$903.90) as I write, which means that a gold Sovereign is worth 461.94*.2354= £108.74 as melt value! Well over 100 quid. At the start of this gold bull market, they were worth less than 50 pounds each and even as late as 2004 could be obtained for £60 quite easily by astute buyers on eBay from reputable dealers.
Today's high in the April 2008 contract was $922.50 according to the NYMEX website data - compare that to the 1980 all-time intraday high of $895.00 on 21/1/1980 and you have a clear gap of $27.50 above that old record.