For now, investors are still cautious about another market pullback. This trepidation is giving reinforcement to related gold investments. But if a correction shows up anytime soon, have an exit strategy at the ready. Our strategy is to use the 200-day moving average; if gold dips below this line, it’s a sell signal. (How to follow trends).
The largest gold ETF, SPDR Gold Shares (NTSEArca: GLD) now has holdings at 1,113.833 tonnes, down from a record 1,134.03 tonnes in June, reports Chikako Mogi for Reuters.
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- iShares COMEX Gold Trust (NYSEArca: IAU): up 29.3% year-to-date
- ETFS Physical Swiss Gold Trust (NYSEArca:SGOL): up 15.3% since inception
- SPDR Gold Shares (NYSEArca: GLD): up 29.4% year-to-date
For full disclosure, Tom Lydon’s clients own shares of GLD.