GLD - Gold ETF SPDR Gold Shares (GLD) Soars

August 18, 2011 - The most popular Gold ETF, SPDR Gold Shares (GLD), is hitting a new 52 week high today as gold prices spike and the stock market average move lower. There was noticeable weakness in European Bank Stocks overnight which is spilling over into the US markets. GLD is currently trading up 1.3% to $176.60 in pre market trading which is a new 52 week high.

SPDR Gold Shares (GLD) seeks to replicate the performance, net of expenses, of the price of gold bullion. The trust holds gold, and is expected to issue baskets in exchange for deposits of gold, and to distribute gold in connection with redemption of baskets. The gold held by the trust will only be sold on an as-needed basis to pay trust expenses, in the event the trust terminates and liquidates its assets, or as otherwise required by law or regulation.

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Bill Gross CNBC 10/24/08 - Bull Market Statement

Bill Gross from Pimco was on CNBC today, Friday, 10/24/08. Below are a few sound bites from Bill Gross.

"Almost all of the financial institutions are in the process of deleveraging....it doesn't have to do with fear....its just a forced selling event."

Stocks are down 40% Global Stocks are down 45-50%

"The Commercial paper program needs to be implemented....the Tarp plan has to be implemented quickly. The money has to get from the private sector to the public sector quickly."

Is there a Bull Run on the horizon Bill?

"From a certain price point here, and we might be their shortly, a bull market could be soon forming."