Hindsight is 20-20, but in December, I said that GLD looked like it was due for a run because of the MACD turning positive. It's now safe to say that I was right. Unfortunately for me, I didn't buy in... I was hoping for another dip to get in cheap, but it doesn't look like that will happen now. However, even at these levels, gold could still be cheap.
We did have a decently sharp pullback on gold tanks to the "Bernake Rally" today, but it didn't do much damage to the daily chart. Short term entry targets look like ~92 or ~87.
The investment objective of the SPDR Gold Trust (GLD) is for the Shares to reflect the performance of the price of gold bullion.
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