City Holding Co. Acquires 6,733 Shares of SPDR Gold Shares $GLD

City Holding Co. grew its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 41.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,914 shares of the exchange traded fund’s stock after purchasing an additional 6,733 shares during the quarter. City Holding Co.’s holdings in SPDR Gold Shares were worth $8,441,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its position in shares of SPDR Gold Shares by 20.4% in the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after purchasing an additional 1,903 shares during the last quarter. Bison Wealth LLC grew its stake in shares of SPDR Gold Shares by 77.8% during the fourth quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock worth $1,438,000 after purchasing an additional 2,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in SPDR Gold Shares in the first quarter valued at about $16,014,000. Schnieders Capital Management LLC. increased its holdings in SPDR Gold Shares by 4.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock valued at $1,829,000 after purchasing an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in SPDR Gold Shares in the second quarter valued at about $337,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key Stories Impacting SPDR Gold Shares

Here are the key news stories impacting SPDR Gold Shares this week:

• Positive Sentiment: Weak U.S. jobs data reduced expectations for further Federal Reserve tightening, pressuring the dollar and Treasury yields while improving the appeal of non-yielding gold. Analysts cited potential upside targets for gold and silver. Gold and Silver Price Forecast: Jobs Shock Boosts Gold, Silver Eyes $65.20
• Positive Sentiment: Lower yields, strong central-bank demand and renewed investor inflows are giving gold ETFs additional momentum, directly supporting the outlook for GLD. Gold ETF Rally Gains Momentum: Will It Sustain?
• Positive Sentiment: Sprott’s Maria Smirnova said gold’s months-long decline was a correction rather than a trend reversal. Rising government debt, large fiscal deficits, central-bank buying and geopolitical fragmentation could reinforce gold’s long-term strategic role. Price correction improved the long-term risk-reward profile for gold and silver
• Positive Sentiment: One fund manager said gold’s nearly $300 breakout rally could lead to further gains, including a possible return toward $5,000 per ounce over the next two years. Gold could reclaim $5,000 an ounce in two years
• Neutral Sentiment: Gold is consolidating above a key 200-day technical average, with traders watching for confirmation that the recent bullish momentum will continue. Gold Price Analysis: Gold Consolidates Above 200-Day EMA
• Negative Sentiment: Upcoming U.S. CPI and PPI reports could drive volatility. Hotter-than-expected inflation may lift yields and the dollar, potentially limiting gold’s rebound, while technical resistance remains a hurdle. Weak Dollar Supports Rebound Ahead of U.S. CPI

SPDR Gold Shares Trading Up 1.0%

NYSEARCA:GLD opened at $402.54 on Tuesday. SPDR Gold Shares has a 1-year low of $305.19 and a 1-year high of $509.70. The firm has a market capitalization of $142.14 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The business’s 50-day moving average price is $380.88 and its two-hundred day moving average price is $420.90.

About SPDR Gold Shares

SPDR Gold Trust (the Trust) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust’s business activity is the investment of gold. The Trust creates and redeems Shares from time to time, but in one or more Baskets (a Basket equals a block of 100,000 Shares). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.