The SPDR Gold Shares(NYSE:GLD) are trading higher this morning by 0.45 cents to $134.64. However, at the start of the trading session the popular GLD was trading around the $135.20 level. Should the GLD start to decline further there will be intra-day support around the $134.00 area and much more support around the $133.20 level. Both support spots could see small intra-day bounces.
Whenever trading gold and silver it is always prudent to keep an eye on the U.S. Dollar Index. Often gold and silver will bounce higher when the U.S. Dollar Index pulls back or declines.
Nicholas Santiago
Chief Market Strategist
www.InTheMoneyStocks.com
