Gold Breaks To New All-Time High (GLD) (NEM) (ABX) (GG)

(Updated) Gold reached a new all-time high above $1450 per ounce Tuesday as investors and speculators continue to run to the precious metal due to currency debasement.

Gold for June delivery settled up $19.60 to $1451.80 per ounce on COMEX and hit a high $1457.60.

Silver continues to ride the coattails of gold, with prices hitting new multi-decade highs above $39 per ounce earlier. Silver settled at $39.18and reached a high of $39.245.

The rising prices has investors picking up shares of the miners, which trade nearly in lockstep with the underlying commodities. Gold miners Newmont Mining (NYSE: NEM) closed up 4.4 percent, Goldcorp (NYSE: GG) was up over 6 percent, and Barrick Gold (NYSE: ABX) was up 5.6 percent. Silver miner Silver Wheaton (NYSE: SLW) was up 4.2 percent.

A number of ETFs also rose: SPDR Gold Shares (NYSE: GLD) closed up 1.6 percent, Market Vectors Gold Miners ETF (NYSE: GDX) was up 5 percent and iShares Silver Trust (NYSE: SLV) closed up 2 percent.

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