GLD Headed for $150

By Sam Collins,

Shutterstock photo

SPDR Gold Trust (NYSE: GLD ) - This exchange-traded fund (ETF) has had a terrific run from $80 a year ago to the recent new breakout high at over $140 (see chart below).

But with new pressures to load up on gold coming from both China and the Middle East, and the Fed now in inflation "vigilance" mode, yesterday's breakout from a compound top is telling us to add to current positions since the breakout target is $150.

Traders should consider buying GLD May 143 Calls at $2.65 or lower with a target of $7.

Trade of the Day - SPDR Gold Trust (NYSE: GLD) Chart

Trade of the Day Chart Key

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing Stocks
Referenced Stocks: ETF , GLD

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