Gold prices hit a four-month record yesterday, driven higher by the falling dollar and slumping equities.

Investors looked for a safe haven after the greenback hit a record low versus the euro. Gold prices reached $989.60 an ounce and fell back to $978.70 after a sharp drop crude oil prices.

Gold is not the only precious metal gaining ground, says Brian Hunt. Silver has gained 27 percent this year, against gold’s 17 percent.

Biotech, one of the most speculative sectors is “acting well” right now, says Brian Hunt. The Powershares Biotech ETF (PBE) has held steady while the market collapses around it. When the broader rally comes make sure you are in biotech…

Brian Hunt says the collapse of the US banking sector will one day lead so some fantastic bargains. He also says investors should avoid it like the plague for now…

There are plenty of reasons why US stocks are volatile at the moment (to get a better idea, check out these articles by Brian Hunt, Rick Pendergraft, and Jeff Clark). But lurking behind the chaos in the banking sector and wildly fluctuating commodity prices are ‘witching days.’

Anyone reading the financial press must feel like they’re trapped in a particularly grueling version of Groundhog Day. Crude oil prices just keep on rising.

Today, the black goo hit $146 a barrel. Traders took fright, it seems, at a drop in US stockpile. Crude oil prices are now up a whopping 55 percent since the beginning of the year.

But is supply and demand really the culprit? Hank Paulson thinks so. He says supply and demand is the “predominant factor.”