Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Gold ETF (GLD) Hits New 52-Week High
For investors seeking momentum, SPDR Gold Shares (GLD - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 39.79% from its 52-week low price of $206.29/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:
GLD in Focus
This ETF is designed to track the spot price of gold bullion. The iShares Gold Trust reflects the performance of the price of gold bullion, less expenses. The product charges 40 bps in annual fees (See: All Precious Metals ETFs).
Why the Move?
Gold has been an area to watch lately, given the rise in volatility and increased safe-haven demand driven by the anticipated U.S. tariff threats and escalating geopolitical tensions. The likelihood of the Fed reducing interest rates this year further supports the rally in gold prices, boosting the fund’s prospects. Central banks’ increasing purchases of the precious metal have also boosted gold prices.
More Gains Ahead?
Currently, GLD has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. However, it might continue its strong performance in the near term, with a positive weighted alpha of 38 (as per Barchart.com), which gives cues of a further rally.