Gold Breaks $1630 per Ounce (GLD)
Tweet
Share
E-mail
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Rose 3 Million Barrels Last Week - EIA
- SoFi launches new income-focused ETF based on member stock holdings
- Oil jumps after settlement as US revokes general license for Iran oil sales
Create E-mail Alert Related Categories
Commodities, ETFsSign 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!
