Northern, WI 08/27/2013 (usastockreport) – The prices of gold in the international markets had been rallying to higher levels since the month of July 2013. It is essential that the investors in the exchange traded funds based on such precious metals like that of SPDR Gold Trust (ETF) (NYSEARCA:GLD) should remain cautious as gold has rallied quite a lot in recent past. It is recently observed that the demand for precious metals in countries such as Indonesia had reached its highest levels in past four years primarily because traders have started to take effective advantage of the recent weaknesses in the markets.
The prices of gold in the international markets are presently lower by 19% relative to the prices in the beginning of the calendar year and are further 29% lower than the record high prices that were reported early in September 2011. It thus proves that the bullish rally in prices of such precious metals for the past 12 years had just ended and so is the case with the exchange traded funds based on such precious metals.
However, the recent take off in the prices of gold and silver in markets across the globe could be taken as a cue to expect rally in prices of SPDR Gold Trust (ETF) (NYSEARCA:GLD).