GLD up or down in 2014

At the next level of resistance.

 

Breakout today.

 

Next upside target is 1389

 

Approaching 1389 area, may touch that today.

A 60 min chart view of Gold since Jan 1st 2014.

 

Out of GDX today at 27.87. Now that gold's broken out, gotten into that and out of this. Bought GLD the other day at 131.72.
Reserve the right to get into GDX again in the future, of course.

 

Rock, taper, scissors, shoot: http://www.marketanthropology.com/2014/03/rock-taper-scissors-shoot.html

The thing that moves the precious metals isn't fear, or geopolitics. It's interest rates vs inflation, as mediated via currency values.

 

isn't gdx the more levered play to the upside though?

 

Yeah, but it has a tendency to crater with the market on really bad days. It's still an ETF of stocks, after all.
Gold isn't nearly a perfect hedge either, nothing is, but it's closer.