Gold Eyes $1000 Again (GLD, IAU)
Posted on Tue 17th Feb, 2009 11:00:22 AM
With a tough market and gloomy economic forecast Gold has taken stage front and center once again jumping this morning to nearly $950 effectively putting it in striking distance of the bold $1000 mark.
This trend of Gold’s reheightened popularity should be no new news for investors though because since bottoming in November 08 Gold has been under strong accumulation by institutions.
Technically speaking by looking at the stock charts below we can see that Gold has effectively moved past $925 resistance. For those investors seeking to invest in gold the best route is through an ETF like the Streettracks Gold Trust (GLD) or the Ishares Comex Gold Trust (IAU). Charts below.
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