Gold is Back

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

GLD Chart  

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As early as April 9, 2009, at $86.33, I targeted GLD at $125 .

On Dec. 3, GLD rose to a high of over $119. And on Jan. 11, at $105.58, I said , "Now, with gold trading at $1,139 an ounce, with an end-of-the-year target of $1,300 from S&P, our original target of $125 seems to be achievable. Buying now could result in a healthy profit as buyers rotate back into gold."

Gold is once again in vogue as the crisis in Greece threatens to grow and China is rumored to be a buyer.

The target of $125 could turn out to be low, but I'll continue to cover it here and advise you if there are changes.

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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 , Investing Ideas
More Headlines for: ETF , GLD


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