SPDR Gold Trust (GLD)

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The Ord Oracle: Gold and GLD Update
By: Tim Ord | April 19, 2023

SPX Monitoring Purposes: Long SPX on 2/6/23 at 4110.98

Monitoring Purposes GOLD: Long GDX on 10/9/20 at 40.78.

Long Term SPX Monitor Purposes: Neutral.



Above is the weekly Gold and ETF for Gold, GLD. Both indexes are back up the to their previous highs and holding steady. This is a third test of the previous highs for both indexes. The more times a high is tested, the more likely the previous high will be exceeded. We have the GDX bullish into the August-September timeframe (see last night's report) and if GDX goes up, so will Gold and GLD. To get through the previous highs, a "Sign of Strength" (strong volume with strong rally) will be needed, and that condition may develop in the coming weeks, where the market may be getting stronger.

Tim Ord,

Editor

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