Things are looking up for the SPDR Gold Trust these days.
The gold ETF was last up 2.1% on Thursday, as it touched levels not seen since Dec. 10. GLD is climbing well above its 50-day moving average, as shown in the chart above.
Recent inflows are also encouraging. Gold ETFs on Friday scored their biggest daily inflow since October 2012, said Commerzbank analysts in a research note on Wednesday.
A note from Barclays analysts on Tuesday told a similar story. They wrote that Friday marked the largest daily inflow for physically-backed exchange-traded products since Jan. 31.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Mingze Wu
centers on forex and macro-economic trends impacting the Asia Pacific region.
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