The SPDR Gold Shares(NYSE:GLD) is trading higher by 0.75 cents to $150.39 a share. The move higher in the GLD comes as the major stock indexes come under severe selling pressure. Gold is considered a currency by many traders and investors. Therefore, when problems occur in Europe, Asia, or elsewhere money will flow into gold as a safe haven trade. The GLD will have some minor intra-day resistance around the $150.50 and $151.00 levels.
Nicholas Santiago
InTheMoneyStocks.com
