“The first levels for gold are the round number, $1,600, and above that the resistance is provided by what was formerly the support, which is the 200-day moving average which is around $1,630,” Credit Suisse analyst Tom Kendall said in a Reuters report.
The gold ETF gained about 10% in 2011.
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD and SLV.
Full disclosure: John Spence owns ZSL.