Scott Bauer of Prosper Trading Academy highlighted a notable 4% pullback in the SPDR Gold Shares ETF (GLD) over the past three weeks, calling it a compelling buying opportunity. He pointed to the ETF’s relative strength compared to bullion futures, noting that GLD’s average daily trading volume surged by 15% during the retracement. Bauer suggested initiating a long position with a 1.5% stop-loss below the recent swing low, projecting a potential 8% upside over the next two months if gold prices revisit key technical resistance near their 50-day moving average.

On CNBC’s "Halftime Report," Joe Terranova disclosed that he trimmed his GLD position as part of a broader rebalancing strategy. He cited a shift in tactical asset allocation, moving 4% of his total portfolio out of the gold ETF to fund purchases in energy and technology names. Terranova emphasized that while gold remains a core inflation hedge, shorter­-term momentum indicators have weakened, with GLD’s relative strength index dipping below 50. He plans to reassess exposure should the ETF regain momentum above its 200-day moving average.