On Thursday trading session, stock of the SPDR Gold Shares ETF (NYSEAMEX: GLD) moved into oversold territory, exchanging hands as low as $159.11 a share.
ETF Channel explains oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure speed on a scale of zero to 100. A stock is believed to be oversold if the RSI reading drops lower than 30 rating.
SPDR Gold Trust (GLD), the biggest physically existed gold exchange-traded fund in the world, tailed the price of physical gold down as US fiscal-cliff talks halted.
Its competitors include iShares Silver Trust (ETF) (NYSEARCA:SLV) that slipped -3.65% to $29.01 with the total traded volume of 36.97 million shares and Market Vectors Gold Miners ETF (NYSEARCA:GDX) that decrease -0.64% to $45.07 with the total traded volume of 14.52 million shares.
Other Financial stocks with bullish trend include SPDR S&P 500 ETF Trust (NYSEARCA:SPY) up +0.71% to $31.71, iShares MSCI Emerging Markets Indx (ETF) (NYSEARCA:EEM) up +0.60% to $43.76 and iShares Russell 2000 Index (ETF) (NYSEARCA:IWM) up +0.50% to $84.55, whereas with bearish trend include iShares Silver Trust (ETF) (NYSEARCA:SLV) down -3.69% to $29.01, Discover Financial Services (NYSE:DFS) down -3.42% to $38.41 and Market Vectors Gold Miners ETF (NYSEARCA:GDX) down -0.64% to $45.07.
SPDR Gold Trust (ETF) (NYSEARCA:GLD) stock’s trade at beginning with a price of $159.85 and throughout the trading session climbed at a high of $160.12 other than when day-trade ended the stock finally declined -1.22% to $159.71.
Shares price of GLD moved down from its 20 days moving average with -3.58% and remote negatively from 50 days moving average with -4.21%. GLD current quarter performance remained -6.99%. GLD had a trade volume of 25.15 million shares.
GLD last month stock price volatility remained 0.71%. In its share capital GLD has 449.00 million outstanding shares among them 444.55 million shares have been floated in market exchange.
The stock is ahead its 52 week low with +7.73% and lagging behind from its 52 week high price with -8.24%. Company’s beta coefficient included 0.11. Beta factors measures the amount of market risk associated with market trade.
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