Stockchase Opinions

Bill Baruch, Founder, Blue Line Capital SPDR Gold ETF GLD-N COMMENT Jun 09, 2023

If gold holds above $1,900, the previous high, then be long in gold. But if gold falls below $1,900 after the Fed hikes, be very cautious.

$182.240

Stock price when the opinion was issued

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SELL

Good option for gold ETF.
High liquidity.
Good long term investment (5-10 years).
Not buying at the moment. 

DON'T BUY

Not excited about gold, to be honest. Needs to see a deflationary catalyst but rates keep rising. Would prefer to own the metal, not the miners. Won't sell it though.

SELL

He sold half in May as yield began to rise, and sold the rest today as GLD broke below the 100-day moving average, last seen in fall 2022. You want to own at least some gold now with the deflationary effect (from March's regional bank crisis). He may step back into this for the long term.

BUY

It's a long-term investment. Many bought gold last March out of fear of a slowdown and weakening dollar. If you still believe that then hold and don't sell.

BUY

The original gold ETF. It tries to hold physical gold, which is a good hedge against currency devaluation, inflation spikes and general uncertainty. Gold is struggling now, but it's a good time to buy this during weakness.

PAST TOP PICK
(A Top Pick Oct 31/23, Up 2%)

Lower price point than similar products meant for retail investors. Recent pullback a good time to buy. Stronger US dollar tough on gold. Traditionally gold does well into the Chinese New Year.

DON'T BUY

He sold it. GLD is approaching its moving averages. He bought it because of deflationary pressure as the interest rate falls. Gold and GLD has underperformed.

BUY

Good and handy if you want to participate in the current gold rally.

BUY

The costs to get gold out of the ground are so high that he prefers holding this ETF and not a company.