Gold ETF Starts 2018 With Record Winning Streak as Dollar Falls
(Bloomberg) -- Call it a new golden age.
The SPDR Gold Shares ETF (ticker GLD) kicked off 2018 with an advance of 1.2 percent on Jan. 2, extending its streak of gains to 11, a record. It retreated slightly at the start of regular trading on Jan. 3, but is still up for the year.
This "stealth rally in gold" has been enabled by the battered U.S. dollar, says Bespoke Investment Group. The Bloomberg Dollar Spot Index fell in the previous five sessions, its longest losing streak since September.
To contact the reporter on this story: Luke Kawa in New York at lkawa@bloomberg.net.
To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Joanna Ossinger, Andrew Dunn
©2018 Bloomberg L.P.
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