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home / news releases / UGL - Gold Reestablishes Its Brilliance


UGL - Gold Reestablishes Its Brilliance

Breaking Through the Ceiling

We have talked frequently about the fundamental and technical importance of the $1,365 per ounce level for gold, which has roughly been the top of its trading range for the past six years. Last week, gold spiked above $1,400/oz - a move driven by a change in the U.S. Federal Reserve's (Fed's) outlook that increases the chances for a series of rate cuts to stimulate both the economy and inflation.

Gold Price, 2008 to 2019

Source: Bloomberg. Data as of June 2019.

The Fed update came on the heels of the

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Stock Information

Company Name: ProShares Ultra Gold
Stock Symbol: UGL
Market: NYSE

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