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SPDR Gold Trust Bearish Moving Average Crossover Alert (GLD)

By James Quinn

SPDR Gold Trust (NYSE:GLD) crossed under its 10-day moving average of $121.73 on a volume of 3.8 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

SPDR Gold Trust share prices have moved between a 52-week high of $131.15 and a 52-week low of $100.23 and are now trading 21% above that low price at $120.95 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of SPDR Gold Trust on March 21st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $118.28. Since that recommendation, shares of SPDR Gold Trust have risen 3.4%. We continue to monitor GLD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses spdr gold trust

Ticker(s): GLD