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SPDR Gold Trust Bullish Moving Average Crossover Alert (GLD)

By Amy Schwartz

SPDR Gold Trust (NYSE:GLD) crossed over its 10-day moving average of $126.06 on a volume of 1.9 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher 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 26% above that low price at $126.54 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 June 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $121.64. Since that recommendation, shares of SPDR Gold Trust have risen 3.1%. 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