The New York City-based investment trust holds gold and issues shares in exchange for deposits of gold.
Gold prices are up by 3.19% to $1,194.50 per ounce on the COMEX this afternoon. Gold is up about 12% year-to-date, according to the CNBC.com index.
Clearly, the biggest winner for the year so far has been gold. The yellow metal is up a robust 11% for the first five weeks of 2016, and closing on its high for the week and for the last three months certainly didn't dissuade anyone from piling on.
The chart shows a nice surge over the 200-day moving average last week on very high turnover. This is action we have not seen for months from gold, and off the double bottom in December this move is certainly impressive.
Relative strength also signals power, but it may stall out here. Given the fact the dollar was up strong Friday and gold surged, end of day says there may be more fuel in the tank.
Gold is one of the strongest charts out there. After a bit of a pullback, this could continue.
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