American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

GLD ETF stock forecast: Could this gold fund hit $300?

by admin February 24, 2025
February 24, 2025
GLD ETF stock forecast: Could this gold fund hit $300?

The SPDR Gold Shares ETF (GLD) ended the week close to the fresh all-time high hit on Thursday as the gold market reaps heftily from the ongoing geopolitical and economic uncertainties. Since the beginning of the year, it has sustained the same bullish momentum that yielded a rally of about 25% in 2024. At the time of writing, GLD ETF was at $270.74 after pulling back slightly from the all-time high hit on Thursday at $271.95.  

The Trump factor in gold price rallying

Gold is one of the conventional safe havens in times of geopolitical and economic turmoil. In addition to the geopolitical tensions in the Middle East and the Russia-Ukraine war, the entry of Trump into the Oval Office has contributed to the recorded surge in safe haven demand. 

Even before his presidential win, the market participants were concerned that his policies would be inflationary. In fact, a day after his inauguration on 20th January, the GLD ETF rose to its highest level in over two months as investors shifted to a risk-off mood. 

A month into his second term in office, concerns over his foreign policy and tariffs have continued to bolster gold and gold-affiliated assets to multiple record highs. On Thursday, gold price hit a fresh all-time high at $2,956.05 as financial markets reacted to the probable shift of President Trump’s position on the Russia-Ukraine war. 

Read more: Here’s why Goldman Sachs sees further upside in gold prices

In an unexpected turn of events, Trump has termed President Zelensky as a “dictator”. The remarks were in response to the Ukranian President’s assertions that the US president is “living in a disinformation space” governed by Russia. 

As the rift between the two leaders deepens, uncertainties over a possible peace deal between Russia and Ukraine have increased. Notably, these concerns have bolstered the demand for gold and other safe haven assets.

Besides, investors are concerned that Trump’s tariffs will be inflationary; an aspect that has further boosted the demand for gold as a hedge against inflation. Since taking office, he has executed several tariffs and threatened to impose others as he reshapes US’ trading relationship with other countries.  

The recently released minutes for the Fed’s January meeting highlighted the officials’ concern that the president’s approach would “hinder the disinflation process”. The minutes also pointed to “elevated uncertainty regarding the scope, timing, and potential economic effects of possible changes in trade, immigration, fiscal, and regulatory policies”. 

Central-bank buying to bolster gold demand in 2025

In 2024, purchases by central banks from across the globe largely contributed to gold’s rallying. This trend is set to continue in 2025 as they seek to diversify their reserves away from the US dollar and hedge their assets against economic risks.   

According to Goldman Sachs, central-bank buying will be a key bullish driver for gold prices. Subsequently, they have adjusted their price forecast to $3,100 an ounce the end of the year. 

Holdings of gold-backed ETFs like SPDR Gold Shares ETF have been on the rise as the fundamentals remain in favor of gold’s bulls. Notably, the trend is set to continue surging in coming months. 

Read more: The $52 trillion case to buy gold and SPDR Gold Trust  ETF(GLD)

GLD ETF stock forecast

GLD ETF chart by TradingView

The GLD ETF has staged a strong comeback, as we predicted in the last article. It finally moved above the bullish pennant pattern that was forming. A pennant is made up of a vertical line and a symmetrical triangle pattern. This pattern is a highly popular continuation sign. It has also moved above all moving averages.

The Relative Strength Index (RSI) and the MACD indicators have all pointed upwards. Therefore, the GLD ETF will likely continue rising as bulls target the next key resistance point at $300.  Another scenario is where it drops to $257 and then resumes the bullish trend. This is known as a break and retest pattern.

The post GLD ETF stock forecast: Could this gold fund hit $300? appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
FBTC, IBIT, and ARKB ETFs analysis as Bitcoin nears key price
next post
USO ETF stock forms perfect triangle: more pain before rebound

Related Posts

Silver and the SLV ETF could be on...

September 25, 2024

Hedera Hashgraph price analysis as experts see HBAR...

November 30, 2024

Canoo stock price analysis: GOEV bankruptcy risks are...

October 16, 2024

Cardiol Therapeutics

February 7, 2024

WESTERN COPPER AND GOLD ANNOUNCES COMPLETION OF C$5...

May 7, 2024

IAG share price is about to form a...

September 23, 2024

Apollo Global vs KKR: Which is the better...

October 12, 2024

Top Nasdaq 100 index stocks dragging the QQQ...

March 12, 2025

ZIM stock price forms a death cross as...

April 22, 2025

Archer Aviation stock has crashed: can ACHR shares...

December 3, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • GMS stock jumps 29% on takeover interest from Home Depot, QXO, analysts raise PTs

      June 22, 2025
    • Japan’s rice price surge: what’s driving it and why it could spark a political crisis

      June 22, 2025
    • BofA raises STOXX 600 target amid resilient global growth, warns on Mideast risks

      June 22, 2025
    • Palantir co-founder: US must prevent Iranian nukes

      June 22, 2025
    • Fed governor Waller advocates for July rate cut amid tariff, labor market outlook

      June 21, 2025

    Categories

    • Business (3,199)
    • Investing (2,531)
    • Latest News (2,000)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved