Gold zooming up
An exchange-traded fund (ETF) is a type of pooled investment security that operates much like a mutual fund.
Gold ETFs will track a particular commodity i.e. gold and Gold ETFs can be easily purchased or sold on a stock exchange the same way that a regular stock can.
HDFC Gold ETF created solid support around 42 levels, consolidated there for many weeks, and finally zoomed up and also decisively crossed the immediate resistance at 44-45 levels.
Now sustaining above 44 levels, chances are high, we may see a rally or a spike until 50-52 levels in this gold ETF in the coming months.
Not a recommendation to trade.
Gold ETFs will track a particular commodity i.e. gold and Gold ETFs can be easily purchased or sold on a stock exchange the same way that a regular stock can.
HDFC Gold ETF created solid support around 42 levels, consolidated there for many weeks, and finally zoomed up and also decisively crossed the immediate resistance at 44-45 levels.
Now sustaining above 44 levels, chances are high, we may see a rally or a spike until 50-52 levels in this gold ETF in the coming months.
Not a recommendation to trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.