Gold Breaks $1630 per Ounce (GLD)
Tweet Send to a Friend
SPDR Gold Shares ETF (NYSE: GLD) is higher by 1 percent early on Tuesday as gold prices hit their highest levels since June 6th. The move comes as the U.S. dollar hit a six week low.
Traders say a break of the $1630 triggers technical buying and an extended move could be in the works that would target $1675 per ounce. Gold has been trading in a very tight range for months, and today’s breakout comes as a welcome sight to traders frustrated by the lack of momentum in precious metals.
SPDR Gold Shares ETF (NYSE: GLD) currently trades at 158.82. The spot price of gold currently trades at $1637 per ounce early on Tuesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Traders say a break of the $1630 triggers technical buying and an extended move could be in the works that would target $1675 per ounce. Gold has been trading in a very tight range for months, and today’s breakout comes as a welcome sight to traders frustrated by the lack of momentum in precious metals.
SPDR Gold Shares ETF (NYSE: GLD) currently trades at 158.82. The spot price of gold currently trades at $1637 per ounce early on Tuesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Gold (GLD) Goes Crazy; Trades Up Despite Fed Speak
- Stocks Pull Back after Bernanke Says Worries About Financial Stability 'Increased a Bit'
- Silver Wheaton (SLW) Pops as Silver Sees Relief Rally
Create E-mail Alert Related Categories
Commodities, ETFs
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
