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Bearish Moving Average Cross by iShares COMEX Gold Trust (IAU)

By David Diaz

iShares COMEX Gold Trust (AMEX:IAU) crossed under its 10-day moving average of $12.15 on a volume of 1.6 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, iShares COMEX Gold Trust share prices have been bracketed by a low of $11.51 and a high of $16.37 and are now at $12.04, 5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

SmarTrend is tracking the current trend status for iShares COMEX Gold Trust and will alert subscribers who have IAU in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses amex:iau ishares comex gold trust

Ticker(s): IAU