In France, some market observers are concerned about far-right candidate Marine Le Pen, who has been openly critical of Islamic fundamentalism. While Le Pen’s lead at this juncture is enough to get her to the May runoff, polls indicate she would not win that runoff. She has also been highly critical of the European Union, calling it a failure.
“Bill Baruch, chief market strategist at iiTrader, however, doesn’t believe that now is the time for investors to buy gold. While Baruch believes that gold has surged as a result of political uncertainty in the U.S. and abroad, but he does see some “headwind” up to $1,250, which gold last touched mid-November,” according to CNBC.
Year-to-date, investors have pulled about $91.5 million from GLD.
For more information on the gold market, visit our gold category.
Tom Lydon’s clients own shares of GLD.