Should You Invest in This Gold ETF While the Precious Metal Trades Around $4,000?
Key takeaways
- GC=F GLD NVDA The price of gold has come crashing down this year.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
- Gold is a safe-haven asset that investors typically buy when they're worried about broader economic conditions.
GC=F GLD NVDA The price of gold has come crashing down this year. Currently hovering around the $4,000 level, it's nowhere near the highs it reached earlier in the year, when it was well above $5,000. That also means that exchange-traded funds (ETFs) that track the precious metal are also down big. The SPDR Gold Shares (NYSEMKT: GLD) fund is now down 6% for the year, and it has fallen 27% from its 52-week high of nearly $510.
But with gold typically being in high demand amid worsening economic conditions, and the country still being on shaky ground these days due to rising inflation, could now be an optimal time to add the SPDR Gold Shares ETF to your portfolio?
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »