SPDR Gold Shares (GLD) — This exchange-traded fund (ETF) seeks to mirror the price of gold bullion.
As early as April 9, 2009, at $86.33, I targeted GLD at $125.
On Dec. 3, GLD rose to a high of over $119. And on Jan. 11, at $105.58, I said, “Now, with gold trading at $1,139 an ounce, with an end-of-the-year target of $1,300 from S&P, our original target of $125 seems to be achievable. Buying now could result in a healthy profit as buyers rotate back into gold.”
Gold is once again in vogue as the crisis in Greece threatens to grow and China is rumored to be a buyer.
The target of $125 could turn out to be low, but I’ll continue to cover it here and advise you if there are changes.
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