Everything Gold Catches A Bid
Nicholas Santiago | Mar 06, 2013 12:27PM ET
This morning, everything gold is soaring and roaring higher on the trading session. This industry group has been very oversold recently. Today, the SPDR Gold Trust (GLD) is trading higher by 0.88 cents to $153.21 a share. Short term traders should watch for intra-day resistance around the $154.00 area. Investors must be aware that a short squeeze could trigger and that could ultimately drive the price of gold higher on the day.
Some leading gold equities that are climbing higher today include iShares Gold Trust (IAU), Sprott Physical Gold Trust (PHYS), and the PowerShares DB Gold Double Long ETN. All of these equities will track the price action in physical gold.
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