New York, January 1st (TradersHuddle.com) - Shares of SPDR Gold Trust (NYSE:GLD) finished near calculated support at $158.39.
SPDR Gold Trust (NYSE:GLD) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion. The Trust holds gold, and issues SPDR Gold Shares in Baskets, in exchange for deposits of gold and distributes gold in connection with redemptions of Baskets. The sponsor of the Trust is World Gold Trust Services, LLC. BNY Mellon Asset Servicing, a division of The Bank of New York Mellon is the trustee of the Trust. HSBC Bank USA, N.A. serves as the custodian of the its gold.
SPDR Gold's stock range is defined by its calculated support defined at $158.39 and by the resistance level at $169.00.
The area where we expect for buyers to materialize is defined as calculated support. A stock trading near its support level might see a lift, if it provides the necessary support for traders to place their buy orders. However, if this area is breached, it will signal participants that the stock failed to entice buyers to step in and support the stock, which in turn will spur additional downward momentum.Traders wanting to establish a position should pay close attention to SPDR Gold's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $169.00 might limit their upside, however, if the stock breaks resistance, it could be a good point to step in and add to the position.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines