Conclusion, Investment Implications, Strategy

The SPDR Gold Shares (GLD) is setting new all-time highs amid monthly expansion in investor assets and quarterly relative outperformance versus the S&P 500 (SPY).  Together, these factors establish favorable conditions for more outright strength and relative outperformance by GLD and other gold related assets.

GLD Setting New All-Time HIghs On Asset Expansion And Relative Outperformance

The upper panel of Chart 1 below shows that the SPDR Gold Shares (GLD) is setting new all-time highs by edging above its previous 257.71 October 2024 high.  The middle panel shows that the total net assets invested in GLD (AUM) have been expanding on a 21-day monthly basis since Jan 2nd.  Expanding assets indicate bullish conviction in higher prices.  The lower panel shows that GLD has been outperforming the S&P 500 on  a 63-day quarterly basis also since Jan 2nd.  

As long as these three conditions remain intact, GLD is likely to continue moving higher in the weeks ahead.

Chart 1

Current Sector & Industry Group Ideas

Table 1 below is also accessible via the Asbury ETF Trade Ideas rectangle at the top of the Research Center.

Table 1

Click the table to make it larger