Gold ETFs Can Shake Out of Their Doldrums

GLD, the world’s largest gold ETF by assets, currently resides more than 6% below its 200-day moving average and nearly 11% below its 52-week high.

U.S. inflation is still low by historical levels, but at 2.9% U.S. headline inflation is at its highest level since 2012. This supports the notion that gold looks relatively cheap. Based on this relationship, gold is approximately 10% undervalued,” said BlackRock.

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Tom Lydon’s clients own shares of GLD.