As the chart below illustrates, the Gold ETF (GLD) is trading today below its 100-week moving average (purple line and red arrow). This is the first time GLD shares have been below its 100-week moving average since fall of 2008. While it may be too early to sound the alarm bells yet, as shares still trade above a shelf of support near $ 157, GLD is definitely treading on some potential thin ice. We are not the only ones noticing gold has been acting poor of late. Back in December we did a post, Jimmy Rogers is cautions on gold, where the famed money manager issues a cautionary tone on the shiny metal as well …
We would keep a close eye on GLD in the coming days, as shares have been quiet for a while now and we expect a pick up in volatility is coming.
GLD – Weekly Chart with 100 Week Moving Average
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