Sunday, March 14, 2010

SPDR Gold Trust (NYSEArca:GLD) Down for Week

SPDR Gold Trust

After a somewhat difficult week for gold, SPDR Gold Trust (NYSEArca:GLD) found itself struggling along with gold in general, as it participated in the down week, as gold prices fell.

Gold ended the week at $1,101.70 on the New York Mercantile Exchange, dropping 2.4 percent overall. On Friday gold fell $6.50 or 0.6 percent. SPDR Gold Trust dropped 0.5 percent.

Recent gold holdings for SPDR were reported at 1,115.511 tons as of March 11, the same it had on Wednesday.

Contrasting pressures are making it hard to determine where gold will gold, but it's pretty sure it will retain support for some time, although that support is the issue gold investors are thinking of as to how high it will be.

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