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SPDR Gold Shares Message Board

  • fed_up_c_ws fed_up_c_ws Dec 19, 2012 11:36 AM Flag

    GLD Longs

    Dont listen to the short bashers. The GLD is going down for one reason, because its the end of the year, and funds are cashing in their winners. In addition, the commercial banks take advantage of the weakness on light volume to take out as many hedged longs as they can. That is the real reason these PM ETFs were created in the first place, so the commercial banks can defend their dollars holdings by shorting them. Just look at a 5-year chart of GLD versus the S&P 500. GLD is up 100% while the S&P is break-even. Just hold tight, be patient. As long as you dont hedge, you will wont lose money in the GLD. Unlike stocks, gold will never go to zero. Gold $5000/oz by 2017.

    Sentiment: Strong Buy

 
GLD
124.35+0.29(+0.23%)Jul 24 4:00 PMEDT

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