GLD – Why Buy the Gold ETF Here
On Christmas Day 2014, I ended my short opinion on gold and gold relative securities with the publication of this report, Gold Outlook for 2015 – Buy & Hold Here. I also suggested the best way to play a reversal in gold was through the Market Vectors Gold Miners (NYSE: GDX). But I never got on the record with my SPDR Gold Trust (NYSE: GLD) followers, some of whom may not be aware of my positive turn. At this point, after a pull-back from a high price point of above $125 in January, and currently trading at roughly $115, I see current value marking a near-term bottom in the SPDR Gold Trust (NYSE: GLD), and can suggest purchase of the gold security again. I believe gold prices should stabilize and rise from here as the value of the dollar gives way against major foreign currencies. Though I see some risk that capital could flow heavily into U.S. equities, and potentially draw from gold investments over the short-term, I see gold and the GLD security good to go long-term. Even as the Fed raises interest rates this year, I still anticipate the dollar will give way and allow gold to go higher long-term, as Fed transparency has greatly priced this fact into the dollar already. See my full report on the GLD here.
Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
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