Investment Thesis
The analysis of the gold market prospects amid the actual driver indicates the risk of a correction in gold prices and, consequently, the SPDR Gold Trust ETF (GLD), which is tied to gold.
I will begin my analysis with reviewing the degree of activity of the key gold market drivers.
Firstly, contrary to traditional opinion, there is no stable, long-term correlation between gold and the volatility index ((VIX)):
The same way, there is no stable correlation between gold and the S&P 500:
There is a more or less significant long-term correlation