Pinnacle Activity Ticker
Is GLD A Good Buy Right Now?
Pinnacle Digest writes:
There are many gold bugs at Pinnacle Digest. And for some, the most consistent way to play the gold market is through the SPDR Gold Trust - aka, the GLD. In this article, Guy Lerner, a long-time Pinnacle Professor, explains the 6 month correction phase gold has gone through. Although many analysts believe gold is in far more than a correction, and some have gone so far to say that its highs have been hit, Guy believes otherwise.
The GLD currently trades at $160.93 this morning and Guy believes the support levels for it are just over 1% lower. This has garnered his interest as a possible entry point. $158.20 is his level of support for the GLD.
His conclusion for this entry point is based on technical analysis, but his longer-term optimism for the SPDR Gold Trust is based on further accommodative easing by central bankers around the world.
Click here to read Guy Lerner’s article and what else to look out for with the GLD.
More information on SPDR Gold Trust
The SPDR Gold Trust is the most liquid and the largest physically backed gold ETF in the world. The GLD trades on three exchanges. They are:
New York Stock Exchange
Tokyo Stock Exchange
Singapore Stock Exchange