(GLD) ETF Look for New Highs!

Posted: August 9, 2011 in Gold, Gold ETF, PoulTrend Alert!, Precious Metals, Watch List
Tags: , , , , ,

(GLD)- A Gold trust investment trust of which holds gold and issues shares in Baskets of 100,000 shares. This is in exchange for deposits of gold. The objective of the trust is for the Shares to reflect the performance of the price of the gold bullion. They provide investors with a way to invest into gold. The trusts shares represent units of fractional undivided beneficial interest in and ownership of the Trust.  World Gold Trust Services, LLC is the sponsor of the trust. The Gold is held by HSBC Bank USA.

With Gold continuing to hit record highs GLD obviously will continue to grow. After hours gold hit a record $1780 an ounce. Right now gold is around $1738 an ounce up around $29.00 for the trading day. With the fact that many analysis continue to say that Gold is safe haven (GLD) is still interesting to investors out there.

(GLD)- Over the past year  has increased over $30.00 +22% to $169.00. (GLD) does have off days but as of late has really shined. I believe until there is a big jump in the United States Dollar, and a real formula on handling all the debt situations in the United States, GLD is going to continue to look solid in an investors eyes. As of right now (GLD) is trading up +1.30 % or $+2.20. Another thing to look at is Volume, which already today is at 26.16M with AVG Volume around 18.30M. This showing that there is a ton of buying, and selling going on. Personally I feel the ones who are selling are simply just wanting to cash out take some of the gains, and re position themselves to get in before it tops $170.00. In the next coming week, It is possible for (GLD) to eclipse $180.00. Come November, and December $200.00 is possible. The 52 week high for (GLD) is $170.33 and once it gets topped their could be a big upside potential in the forecast.

Currently I have called a POULtrend Alert on (GLD) when it was trading at $158.00 back on 8/1/2011. Since the alert (GLD) has climbed $11.00 or %6.50 percent.

Disclosure –  Currently I do not hold any Position in (GLD) nor do I plan to in the next 3 Trading Days.

Gold

Photo was found on http://wfoster2011.wordpress.com/2011/08/04/gold-rockets-to-new-record-high-of-1663-50-an-ounce/

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Comments
  1. Scott says:

    I hear gold may hit 2200 SOON

  2. […] (GLD) ETF Look for New Highs! (sppcttrade.wordpress.com) […]

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