The Gold ETF to Buy Now

By Sam Collins,  May 12, 2010, 07:30:00 AM EDT

 

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

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GLD Chart  

Chart Legend  

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

Now, over a year later, the chart pattern confirms that target following a reverse head-and-shoulders breakout on Oct. 5, and now a double-top breakout yesterday at over $120. 

I mentioned that the target of $125 could turn out to be low, but said I'd continue to advise you if there were changes.

We will now revise that target to $130 with the possibility of even higher prices later this year. 

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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 The NASDAQ OMX Group, Inc.


This article appears in: Investing, Investing Ideas

Referenced Stocks: ETF, GLD



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