It’s been back to back days of gold making new highs- today, as Moody’s threatens yet again to downgrade U.S. debt ratings if they can’t get their political act together. With gold tipping over  $1590, we thought it made sense to pause and take note of a few things…

1) This isn’t as crowded a trade as you would expect in managed futures, with only APA, Auctos Capital Management, Covenant Aggressive,  Cervino Gold Covered Call and James River Navigator holding long positions among our recommended CTAs, while option traders seem to be going short.

2) Despite impressive numbers, when you adjust the 1980 gold high for inflation with the Department of Labor’s adjustment calculator, the current price sits nearly 32% lower.

3) Unlike past highs, this one seems to be sticking across the board, as gold hit new highs in Euros and Sterling as well. While past gold surges seem to have piggy backed on one currency in flux, this one is feeding off of U.S., European and Asian economic concerns.

4) If you are in the Gold is going to $2,000, $3,000, $4,000 or higher camp – be CAREFUL – there are a lot of BAD ways to get gold exposure. Read our past newsletter on: Gold Exposure: The Efficient Way

5) Avoid Gold Coins, and specifically Goldline.