Spot Gold Makes Fresh Lows (GLD)
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Spot gold, which has been trading in a range for the last several months, broke out lower today and is looking to test physiological support levels around $1600oz. The commodity has already made four month lows and looks to press even lower in early trading on Tuesday. As the price drops, weak hands are likely to get flushed out, which could extend the losses.
The most actively traded ETF tracking gold is SPDR Gold Shares (NYSE: GLD).
The most actively traded ETF tracking gold is SPDR Gold Shares (NYSE: GLD).
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