“A large part of the run in gold is because of the market perception that China will have a soft landing,” Kevin Mahn, president and chief investment officer of Hennion & Walsh Asset Management, said. “That should be bullish for many commodities,” he said, further highlighting that silver and copper have outperformed gold this year. [Gold ETFs Battle 50-Day Moving Average]
SPDR Gold Shares (NYSEArca: GLD) is up about 7% so far in 2012.
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own GLD.