ETF Daily News
Gold ETF Rally May Keep Running
August 30, 2012
Gold ETFs may have hit a rough patch during the summer, but signs like the SPDR Gold Shares (NYSEArca GLD) passing its 200-day moving average and gold bulls pouring in $1.5 million into GLD over the past two weeks may indicate that the yellow metal may be poised to rise again, according to an article on ETF Trends.
Other bullish signals for gold include the $21 billion Pimco Commodity Real Return Fund increasing its gold weightings by 9 percent, and Soros Fund Management LLC doubling its GLD holdings during the second quarter, writes ETF Trends contributor Tom Lydon.
Also, concerns over the eurozone debt crisis haven’t gone away completely, and Asian countries— especially China—have continued to buy gold throughout the year, the article said.
Besides the popular GLD, the article noted that investors can gain exposure to the precious metal through the following:
Go to ETFtrends.com for the full story.