IAUM - Hard To Make A Bearish Case Against GLD
2024-04-25 13:08:01 ET
Summary
- SPDR Gold Shares Trust has struggled to maintain its high valuations, leading investors to question if the bull run in precious metals has come to an end.
- GLD's recent breakout activity sent fund valuations into overbought territory, but these indicators can be distorted by broader trend activity.
- Recent price activity in GLD has been more decisive, correlating with rising U.S. consumer inflation data, suggesting a long-term upward trajectory.
After reaching prior highs just above $220 during the first half of April 2020, the SPDR Gold Shares Trust (GLD) has had an extremely difficult time maintaining those lofty valuations - and the resulting short-term volatility that has been seen after this bearish rejection has many investors wondering if the massive bull run that we have seen in funds tied to the underlying value of precious metals has finally come to an end....
Hard To Make A Bearish Case Against GLD