GLD Climbs Steadily — Is a $395 Test Coming Next?
$SPDR Gold Shares(GLD)$
$379.87 (+0.39%) — Steady climb resumes; eyes on $388–$395 resistance band amid renewed gold momentum
SPDR Gold Shares (GLD) closed at $379.87, up 0.39%, extending its recovery from the early-November dip near $360.
The ETF is now ~6% below its 52-week high ($403.30) and remains +56.9% YTD, supported by a firm rebound in spot gold as U.S. yields softened.
Volume stood near 10.1M vs. 15.9M average, suggesting moderate participation as investors rotate back into defensive assets amid geopolitical and inflation uncertainty.
Technicals & 1-week view
Volume + MACD: momentum continues improving—MACD line (3.03) recently crossed above signal (3.78) from below, confirming an early bullish inflection. Histogram turned positive for the first time in two weeks, signaling trend repair.
RSI(14) = 59.6, showing moderate strength without overbought stress.
EMA stack: price comfortably above 20-EMA $370.6 and 50-EMA $358.8, maintaining a clean bullish alignment.
Key levels: Support $370/$360/ $358 / $345; Resistance $382/ $388 / $403 (52-week high). A decisive break above $385 could trigger follow-through toward $395–$400 in the near term.
Valuation: GLD has no conventional P/E (commodity ETF), but tracks spot gold’s real rate sensitivity. Beta ≈ 0.46, reflecting its low-correlation hedge role versus the S&P 500 (~25× P/E). Target: base case $385–$395, stretch $400–$403 if real yields continue to soften and DXY weakens further.
Risk & Disclaimer:
Gold sentiment remains macro-sensitive—real-rate spikes or dollar rebounds could cap upside. Technical view only, based on same-day TradingView & Yahoo Finance data (Nov 7 close); not investment advice.
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