GLD has been lack luster since it rose due to covid as a safety hedge. It has not performed as a hedge against inflation but to be fair, we are only now getting the real data to support the fact that inflation is here and continuing to rise. These two lines of resistance are important as we continue to watch what happens going forward. If it continues into next week, we could easily see GLD above $200. In the next couple years, GLD could reach $240-250.
This is not a recommendation to buy or sell. It is for information purposes only.
I do not have a position but I have clients with this and who own gold bullion.
This is not a recommendation to buy or sell. It is for information purposes only.
I do not have a position but I have clients with this and who own gold bullion.