Gold ETFs Continue To Shine: GLD Zooms Past $400 After Hours As Gold Closes In On $4,400 - SPDR Gold Trust (ARCA:GLD)

Core Viewpoint - The SPDR Gold Trust (GLD) is experiencing significant growth due to rising gold prices, with the fund surpassing $400 in after-hours trading and showing strong trading volumes, indicating a capital rotation in the markets [1][2]. Performance Metrics - GLD closed at $396.45 during regular trading, up 2.34%, and reached $400 in after-hours trading [2]. - The fund recorded its second-highest trading volume last week at $12.5 billion, exceeding the daily volumes of major tech stocks [2]. - Gold spot prices have increased by 18.03% over the past month, currently standing at $4,355.71 per ounce, with a year-to-date increase of 65.92% [3][6]. Historical Comparison - Since its launch on November 19, 2004, GLD has achieved total returns of 785.33%, outperforming the S&P 500, which has returned 462.63% during the same period [4]. Analyst Insights - Eric Balchunas, a senior ETF analyst at Bloomberg, noted the impressive performance of GLD, describing it as "mind-melting" and contrary to conventional wisdom [4]. - Ed Yardeni referred to gold as "physical bitcoin," suggesting it could reach $10,000 per ounce by the end of the decade [5]. - Peter Schiff is even more optimistic, predicting gold could reach $20,000 per ounce, driven by a declining dollar [6]. Momentum Analysis - The SPDR Gold Trust is rated highly on momentum in Benzinga's Edge Stock Rankings, indicating a favorable price trend across short, medium, and long-term periods [7].