NEW YORK ( TheStreet) -- As sovereign debt concerns continue to emerge and the U.S. continues to implement a loose monetary policy resulting in an increased money supply, gold continues to glimmer surpassing $1,400 an ounce and giving support to SPDR Gold Shares (GLD), PowerShares DB Gold Fund (DGL), ETFS Physical Swiss Gold Shares (SGOL) and the Market Vectors Gold Miners ETF (GDX).Gold futures contracts for December delivery hit an intraday price of $1,410.40 an ounce in electronic trading and the front-month November contract rose to $1,402.80 an ounce as investors fled to the precious metal's safe-haven appeal. Costs of insuring against bond defaults on the sovereign debt of Ireland, Portugal and Spain continue to rise amplifying the enhanced risks in the region and the likelihood of default, which provided positive price support to gold.
- SPDR Gold Shares is the most actively traded gold ETF and moves in tandem with the price fluctuations of gold bullion;
- PowerShares DB Gold Fund gives exposure to gold through futures contracts;
- ETFS Physical Swiss Gold Shares is backed by physical gold bullion;
- Market Vectors Gold Miners ETF is an equity play on gold and includes holdings of companies that primarily derive their revenue through the mining and exploration of gold and other precious metals. Some holdings include Barrick Gold(ABX - Get Report), Goldcorp(GG - Get Report) and Newmont Mining(NEM - Get Report).