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SPDR Gold Shares Message Board

  • nw2000_ca nw2000_ca Apr 26, 2013 12:55 PM Flag

    The Gold ETF Trade

    After an ugly, two-day meltdown in SPDR Gold Trust ETF (NYSEARCA:GLD) on April 12 and 15, the price of $GLD has bounced higher over the past two weeks, and has just “overcut” very near-term resistance of its 10-day moving average. Yesterday’s (April 25) rally in $GLD may have wiped out some of the “late to the party Charlies” who attempted to sell short beneath the lows of 4/22 on 4/23. Yesterday’s gap up may also have forced anyone who was on the fence about covering their short positions to throw in the towel by the close:

    Sentiment: Hold

 
GLD
108.70+0.97(+0.90%)Aug 28 4:00 PMEDT