SPDR Gold Trust Set To Shine
During the financial crisis of 2008, the SPDR Gold Trust (NYSEARCA:GLD) was seen as a hedge for the oncoming flood of liquidity by the Fed. Gold had a great run up into September, 2011 where it topped out at over $1900. Over the past 3 years, gold has corrected by over 30% and now is looking attractive on the long side of the trade again.
If the pattern sets up in the correct manner, we will be looking to pick up the SPDR Gold Trust (NYSEARCA:GLD) around the $122.00 level for a trade, and possible longer term hold.