GLD Ready to Mount New All-Time High

By
A A A

SPDR Gold Shares (NYSE: GLD ) - This exchange-traded fund (ETF) seeks to replicate the price of gold bullion minus the fund's expenses.

GLD had a terrific run from $80 a year ago to the recent new breakout high at over $153. But profit-taking and a stronger U.S. dollar resulted in a pullback to its 50-day moving average.

However, on Friday, buyers emerged and drove the closing price through a bullish triangle , closing it above its 20-day moving average. The strength also triggered a buy signal from the slow stochastic. It is likely that this latest round of buying will lead to a new high of $155 to $160.


Since commodity ETFs may be subject to greater volatility than traditional ETFs, they may not be suitable for all investors. Traders should enter stop-loss orders to protect against significant losses.

Trade of the Day SPDR Gold Shares (NYSE: GLD)

Trade of the Day Chart Key

If you have questions or comments for Sam Collins, please e-mail him at asksam@investorplace.com .



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




This article appears in: Investing , Investing Ideas , Stocks

Referenced Stocks: ETF , GLD

Sam Collins

Sam Collins

More from Sam Collins:

Related Videos

Freshman Finance 101
Freshman Finance 101                
Spot the Dropout RRC
Spot the Dropout RRC                
Power on/Power Off
Power on/Power Off                  

Stocks

Referenced

73%

Most Active by Volume

63,683,265
  • $16.34 ▼ 0.12%
57,325,180
  • $10.64 ▲ 1.33%
54,257,396
  • $112.76 ▼ 0.47%
40,860,148
  • $5.86 ▲ 1.38%
40,102,780
  • $28.54 ▲ 0.42%
36,273,767
  • $104.31 ▼ 1.24%
36,196,207
  • $13.87 ▲ 0.95%
35,675,931
  • $10.40 ▲ 0.97%
As of 8/31/2015, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com