Like most of the sick dying miners, currently warning of an impending collapse in the bullion price, this very unimpressive GLD starts green in the mornings, thus suckering amateur dupes to go long, particularly via the typically worthless call options, then GLD usually moves into the RED, finally closing in the RED.
Even on those days where it manages a close in the green, typically, GLD will quickly erase the unsustainable gain within a day or so. Again, that is established BEAR market action.
This is how Gold has been trading for the last 10 years. I am up about a Grand an ounce on average and i am not selling. Now you listen to me you little insect, Gold is going to trade for at least $10,000 an ounce, come hell or high water and you will survive just like insects have been surviving for millions of years. You creatures can survive on moisture inside of walls. Now, Go back to sleep fella. Have a nice day!