SPDR Gold Trust: GLD And SLV To Exhibit A Technically Bullish Trend

In the past few days, these metals experienced a high influx in prices. Asset fund managers cite this momentum to have been highly geared by a decrease in GLD ETF holding even as more investors now liquidate their investments.

A strong precious metal stock and better economic data are some of the potential reasons for the recent bullish trend. These efforts were pushed even higher by the stronger US Dollar index that rose to 82.35 from 78.91.

Currently, the Price of GLD remains within the range of $1570 and $1685. A crawl was realized shortly after the release of employment data by ADP Nonfarm. The trend may take a different direction as indicated by Central Banks when they send press releases.

Lately, the Price of SLV has hardly managed to climb above $29 per ounce. However, market action indicates that SLV is receiving more traction compared to GLD.

With the current hesitation, more risk-averse investors are likely to withhold their investment. This will definitely quell a high price in GLD and SLV before the end of the year.

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Live 24 hours gold chart [Kitco Inc.]
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Live 24 hours silver chart [ Kitco Inc. ]