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JimVanMeerten (57.26)

Gold still glitters



September 02, 2010 – Comments (0) | RELATED TICKERS: DGP

This morning I added PowerShares DB Gold Fund (DGP) to the Barchart Van Meerten New High portfolio purely for technical reasons. The ETF is based on the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return and managed by DB Commodity Services LLC. The Index is a rules-based index composed of futures contracts on gold and is intended to reflect the performance of gold. Again this is purely for technical reasons. The points I considered are:

1 - 14 new highs in the last 20 trading sessions including 4 of the last 5

2 -  Price appreciation of 11.41% in the last month

3 -  88% Barchart technical buy signal - 11 of the 13 indicators are a buy

4 -  14 day Relative Strength Index is 66.68% and rising

Jim Van Meerten is an investor who writes on investing here and on Barchart Portfolio Blogs. Please leave a comment below or email

Disclosure: No positions in the stock mentioned at the time of publication

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