Gold ETF Rally Could Encounter Headwinds

“Gold climbed about 1 percent on Tuesday to close at $1233.20 an ounce. It is now up more than 3 percent over the past two months, but off about 6 percent this year,” according to CNBC. “LaForge estimates the bearish period will last another three to five years. He sees choppy trading dominating the environment, with prices predominantly in the $1,050 to $1,350 range.”

Related: Top 34 Gold ETFs

Investors have recently shown some interest in gold and GLD. The gold ETF has added nearly $227 million in new assets since the start of the current quarter after suffering large outflows through the first three quarters of 2018.

For more information on the gold market, visit our gold category.

Tom Lydon’s clients own shares of GLD.