Markets
GLD

SPDR Gold Shares Hits 52-Week High as Gold ETFs Continue to Rally

SPDR Gold Shares ( GLD ) continues its bullish run, trading just off its new 52-week high of $128.24, while other gold exchange traded funds are higher as well, as the precious metal rises by $3.40 to $1311.70 on the December contract.

The gains come as investors continue to seek safe haven investments amid the annual meeting this week of the London Bullion Market Association. The conference in Berlin is spawning bullish predictions about gold's advance in the coming months, according to Barron's.

Gold should reach $1,450 a troy ounce this year, according to analyst Kevin Grewal, citing a recent poll of analysts, bankers and producers attending the London Bullion conference.

Among other gainers the iShares COMEX Gold Trust ( IAU ) is trading at $12.82, up a penny, or 0.04%, the PowerShares DB Gold Fund ( DGL ) is at $46.42, up 6 cents or 0.13% and the ProShares Ultra Gold ( UGL ) is at $61.15, up 8 cents or 0.13%.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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

In This Story

GLD UGL IAU DGL

Other Topics

Commodities