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

By David Diaz

Today, shares of SPDR Gold Trust (NYSE:GLD) have fallen below their 10-day MA of $121.72 on a volume of 1.8 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.

Over the past year, SPDR Gold Trust has traded in a range of $100.23 to $123.96 and is now at $121.28, 21% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of SPDR Gold Trust on January 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $104.37. Since that recommendation, shares of SPDR Gold Trust have risen 17.1%. 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