Gold, up 27% last year versus a 23% gain for the S & P 500, again is outperforming the stock market here in the early goings of 2025. The SPDR Gold Shares (GLD) is up 3% this year, compared to a 2% gain for the market. And based on the current “set-up” in the charts, the thinking is the SPDR Gold ETF is headed to new 52-week highs and all-time highs in the days/weeks ahead. Having peaked on October 30th at $257.71, GLD sold off some 8.5% in the Nov-Dec period and now has found its footing and is judged headed back to – and above – its October 30th high. The current “technical set-up” is commonly known as a “symmetrical triangle,” representing a period of equilibrium, in which buyers and sellers are matched off evenly… and is depicted by two converging trendlines. A resolution of the standoff is defined as a move up and out of the apex of the triangle (a bullish resolution) or down and out from the apex of the triangle (a bearish resolution). The day-to-day price action in GLD is judged to be bullish. We’re buyers here. Our price objective is $265+/-. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
Gold chart indicates buyers and sellers are having a showdown. How it may be resolved