The Globe and Mail reports in its Wednesday edition that gold prices have surged over the past year, exceeding $5,000 an ounce on Monday, a record high, with a gain of over $2,000 in the last 12 months. The Globe's David Berman quotes Citigroup analyst Max Layton saying, "Bull markets are associated with strong capital flows, and these capital flows are just dwarfing the finite physical supply." Mr. Berman says if you own gold either directly or through an exchange traded fund, "congrats!" He adds that if you bought the stocks of gold producers before this latest rally kicked in, "double-congrats!" Many investors who overlooked gold's significance have still seen gains, as gold has driven the S&P/TSX 60 and S&P/TSX Composite Index to record highs in the past year. The shares of Agnico Eagle Mines and Barrick Mining, two of the biggest gold producers and among the 10 most valuable Canadian-based companies, have been outpacing the price of gold. Rising commodity prices tend to supercharge producer profit margins. Several smaller producers, which enjoy a greater sensitivity to the price of gold, have performed even better. Mr. Berman says gold is on an epic run, and there are no signs of sputtering. Yet.