GLD: Here Is How To Play Gold In 2023

Dec. 08, 2022 1:19 PM ETSPDR Gold Trust ETF (GLD)24 Comments
Damir Tokic profile picture
Damir Tokic
4.37K Followers

Summary

  • The most important variable in 2023 is the Fed's commitment to the 2% inflation target.
  • Gold is currently at the crossroads at the top of the downtrend range.
  • Until the fundamental resolution, gold is likely rangebound.

Gold Bars Sitting on Blue Bar Graph, Stock Market and Finance Concept.

hallojulie

The initial 2022 bearish thesis

I recommended a sell for gold (NYSEARCA:GLD) on January 21st, 2022. But, this trade was all over the place, currently down 3.32% from the price at publication.

GLD chart for 2022

Seeking Alpha

The bearish thesis

GLD price Chart
Data by YCharts

Gold futures

Barchart

This article was written by

Damir Tokic profile picture
4.37K Followers
Global-macro research. Proprietary trader. Holding a valid Series 3 license as a Commodity Trading Adviser, member of National Futures Association. Professor of Finance. Editor-in-Chief Journal of Corporate Accounting and Finance.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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