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Relative Strength Index has fallen below 30 suggesting the stock is oversold and is also underperforming the S&P 500 whose RSI is at 40.3. The share is trading below the fifty day moving average at $16.8 levels, a..

05 Nov 2012

NEW YORK (Commodity Online): From a high of $17.44 per share, iShares Gold Trust (AMEX: IAU) has fallen to $16.33 and is on oversold territory, according to ETF Channel. But it provides good entry point for investors.

Relative Strength Index has fallen below 30 suggesting the stock is oversold and is also underperforming the S&P 500 whose RSI is at 40.3. The share is trading below the fifty day moving average at $16.8 levels, and hence has some potential for moving upwards from now on, according to Sreekumar Raghavan, Chief Commodity Strategist at Commodity Online.

iShares Gold Trust invests in physical gold and has net assets to the tune of $11.41 bn.

On Friday, ETF Channel reported that iShares Gold Trust witnessed an approximate $85.2 million dollar inflow — that’s a 0.7% increase week over week in outstanding units (from 687,150,000 to 692,250,000). 


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