GLD, daily
SLV, daily
Summary
*it is notable that whilst Gold has re-taken the old floor from last year, the more industrial metals of Silver and Copper remain broadly weak.
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Suffice to say... the gains in Gold are interesting.. but I just can't see this as being anything much than another bounce.
The question any Gold bug/bull needs to ask...
WHY would $1130 be a key multi-year floor?
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Happy Birthday GLD
No doubt.. many in the gold bug community remain utterly contemptuous of the precious metal ETFs, but regardless, GLD is ten years old today...
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| GLD launched Nov'18 2004 |
CNBC did an interesting item today...
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| Cheerleaders like shiny things too |
I'm not sure whether the above item is a contrary indicator, but seriously... the paper instruments of GLD and SLV have been a huge success story. Both have offered the retail trader an easy and flexible way to trade the precious metals.
I would agree there are some 'questionable' issues about both instruments, but I don't see them going away any time soon.
