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SPDR Gold Trust Crosses Above its 10-day MA (GLD)

By James Quinn

Today, shares of SPDR Gold Trust (NYSE:GLD) have advanced above their 10-day MA of $126.57 on a volume of 3.0 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, SPDR Gold Trust share prices have been bracketed by a low of $100.23 and a high of $131.15 and are now at $126.76, 26% above that low price. The 200-day and 50-day moving averages have moved 0.28% higher and 0.38% higher over the past week, respectively.

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 3.6%. 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