Gold ETF Wins Again (GLD)
Thanks to economic uncertainty, gold wins again, it hit a new record high price today and along with it the SPDR Gold Trust (ETF) (NYSE:GLD) touched a new 52-week high.
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The GLD hit $126.17 today but closed at $126.01 per share, that adds up to a 16.3% increase for the fund in the past three months. SPDR Gold Trust (GLD) added 0.91% or $1.14 and volume finished at 20,186,672 shares traded.
Gold hit a new record high Tuesday afternoon, after the Fed announced that it would hold interest rates steady and expects the economic recovery will remain "modest." Spot gold prices hit $1,286.30 an ounce after the news.
A Reuters report notes that "Investment demand for gold remained healthy, with holdings of the world's largest gold-backed exchange-traded fund, New York's SPDR Gold Trust, rising another 3.65 tons on Monday to 1,304.472 tons."