Gold zooming up

An exchange-traded fund (ETF) is a type of pooled investment security that operates much like a mutual fund.

Gold ETFs will track a particular commodity i.e. gold and Gold ETFs can be easily purchased or sold on a stock exchange the same way that a regular stock can.

HDFC Gold ETF created solid support around 42 levels, consolidated there for many weeks, and finally zoomed up and also decisively crossed the immediate resistance at 44-45 levels.

Now sustaining above 44 levels, chances are high, we may see a rally or a spike until 50-52 levels in this gold ETF in the coming months.

Not a recommendation to trade.