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.
Written by Luke Kawa.