Investing in gold has historically been viewed as a “safe haven” and hedge in times of extreme Fed policy change or global conflict. In recent years, however, gold has seen a massive run up as investors shifted gears and began trading it more speculatively, particularly as the wildly popular Gold ETF, GLD, became available on the retail level. TheStreet’s Jill Malandrino and Michael Hasson review levels in gold from 300, to its peak in 2011 and where it is trading now. After falling from the 1,900 level and then breaking through support at 1,600, gold stabilized around 1,200 and has been trading in a range between 1,200 and 1,400 over the last year. Over that period, the price chart has made a series of higher lows indicating a potential bottoming formation. The 1,300 level could act as strong support and if a geopolitical catalyst arises, gold prices may establish a new bull trend.
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