SPDR Gold Trust: Gold The Gains and Declines Of Gold

GLD bulls have been seriously tortured by the drip-drip-drip behavior of gold since the beginning of the year. And after dropping for the fourth consecutive month, the price of gold has killed the expectations of some. However, some view this as an opportunity for more jobs to be created especially in the US.

According to Joni Teves, the current fluctuation in prices will not help any GLD expert to come with a clear view of what will happen next. But the market must still wait for a more convincing catalyst to determine the next direction of gold.

By midday today, the Price of GLD rose by 0.1% to $1,665.90 an ounce. Since the beginning of the week, the prices have fluctuated up to 0.4%. Experts say that if this trend continues then there will be a higher level of employment in many countries. However, this may not hold in the long run.

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Chart From Kitco

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