Should You Invest in This Gold ETF While the Precious Metal Trades Around $4,000?
The SPDR Gold Shares fund is down big from its highs, but if fears of a recession start to mount, it may rally once again.
Overview
The price of gold has come crashing down this year. Currently hovering around the $4,000 level, it's nowhere near the highs it reached earlier in the year, when it was well above $5,000. That also means that exchange-traded funds (ETFs) that track the precious metal are also down big. The SPDR Gold Shares (NYSEMKT: GLD) fund is now down 6% for the year, and it has fallen 27% from its 52-week high of nearly $510.
But with gold typically being in high demand amid worsening economic conditions, and the country still being on shaky ground these days due to rising inflation, could now be an optimal time to add the SPDR Gold Shares ETF to your portfolio?
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Originally published at www.fool.com.