Gold ETF (GLD) Hits New 52-Week High

For investors seeking momentum, SPDR Gold Trust ETF GLD is probably on radar now. The fund just hit a 52-week high, and is up 14% from its 52-week low price of $111.06 per share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

GLD in Focus

This is the largest and most-popular ETF in the gold space with AUM of $33.2 billion and average daily volume of around 7.7 million shares. The fund tracks the price of gold bullion measured in U.S. dollars, and kept in London under the custody of HSBC Bank USA. Expense ratio comes in at 0.40% (see: all the Precious Metal ETFs here).

Why the Move?

The precious metal space, especially gold, has been an area to watch lately given hopes of easing monetary policy, which bodes well for the yellow metal. Lower interest rates will continue to weigh on the dollar and raise the yellow metal’s attractiveness as it does not pay interest like fixed-income assets. Additionally, global growth worries driven by deepening U.S.-China trade tensions, disappointing economic data across the globe, and geopolitical tensions spurred demand for safe-haven assets. Notably, gold is considered a great store of value and hedge against market turmoil.

More Gains Ahead?

Currently, GLD has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, it seems that GLD might remain strong given a higher weighted alpha of 7.2% and low 20-day volatility of 9.3%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.

Want key ETF info delivered straight to your inbox?

Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>

Click to get this free report

SPDR Gold Shares (GLD): ETF Research Reports

To read this article on click here.

Zacks Investment Research

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

Other Topics


Latest Markets Videos


    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at

    Learn More