SPDR Gold Trust (NYSEARCA:GLD) Was One Of The Best EFT
Analysts and investors alike are always trying to figure out if gold is worth investing in or not. And most almost always reach the conclusion that the yellow metal has the capacity to get back on its feet and regain its entire lost luster. In 2011 autumn, gold prices had reached $1,920/ounce and many prominent analysts feel that the same reason that propelled the precious metal to these peaks will make the metal regain its lost glory in the coming months. And they also feel that for those who wish to track this upward trend and make profits, SPDR Gold Trust (NYSEARCA:GLD) as well as Gold Bullion Securities are the best ETF’s to invest in at the moment.
In Friday’s trading, SPDR Gold Trust (NYSEARCA:GLD) dropped by 1.34%. The opening price of the shares was $122.38, which climbed to an intraday high of $122.81 and dipped to a close of $122.60. Approximately 15.96 million shares were traded on Friday while an average volume of 9.16 million shares were traded over a 30 day period. The 52-week low of SPDR Gold Trust (NYSEARCA:GLD) shares is $114.70 and its 52-week high is $174.07. The company has a market capitalization of $36.73 billion.
About the company
SPDR Gold Trust (NYSEARCA:GLD) is an investment-trust. It holds gold as well as issues shares in exchange for gold deposits and distributes gold in relation with the redemption of Baskets. The trust’s investment-objective is that the shares should reflect performance of the gold bullion price. The shares have been designed to provide the trusts investors with a method to invest in gold. They represent the units of fractional-undivided beneficial interest in and also the ownership of the Trust. World Gold Trust Services is the sponsor of the Trust. It is a The Bank of New York Mellon division, which is the trustee of SPDR Gold Trust (NYSEARCA:GLD).