The Gold SPDR (GLD) and the 20+ Year T-Bond ETF (TLT) have been negatively this month. Notice how TLT advanced from 116 to 123.5 and GLD declined from 161 to 150 the prior 11 days. This negative correlation changed today as both surged higher. TLT is up over 1% and GLD is up over 2%. Gold may be regaining its safe haven status.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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