The Edge: A Golden Opportunity Remains
With zero-interest rate policy still in effect, the Gold Rush still continues. Today, Gold reached record all-time highs while GLD broke $106 and continues to flex its strength in the market.
Last month, we recommended GLD in our Premium Monthly Newsletter as a buy at $100 and a hold so long as GLD holds the $100 mark. Our upside target is $115-120 (taking profits along the way, of course). So far we’re up over 6% in less than 4 weeks.
The rally in Gold today is coming amidst a rally in the U.S. Dollar. This is a great sign for Gold because typically there is an inverse relationship between the U.S. Dollar and Gold. Thus, the demand for Gold remains sky high and should only continue until interest rate policy changes beyond rhetoric.
Looking for more Trading Insights? Try these posts: