Gold ETF Still a Good Buy

By Sam Collins,  December 06, 2010, 03:00:07 AM EDT

SPDR Gold Shares (NYSE: GLD ) - This exchange-traded fund (ETF) seeks to mirror the price of gold bullion.

We have been recommending GLD for over a year. On Sept. 16, at $124, the Trade of the Day said, "An intermediate correction in July only temporarily interrupted the rising price of gold, and this week, GLD broke from a triple-top to a new high. The immediate target is still $130, but with new buying from central banks, the price could jump to $140."

And on Nov. 9 , I said, "With the recent breakaway gap, the possibility of a 'currency war' and a rush to precious metals, our target is raised to $150-plus."

I'll stick with this assessment and consider it a good buy now.

Trade of the Day - GLD Chart

Trade of the Day Chart Key

If you have questions or comments for Sam Collins, please e-mail him at samailc@cox.net .




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, Stocks

Referenced Stocks: ETF, GLD



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