Graniteshares Gold Trust (NYSEARCA:BAR) Hits New 52-Week High at $20.60

The Graniteshares Gold Trust (GLD) is a popular exchange-traded fund (ETF) that tracks the price of gold. On August 17th, 2021, GLD hit a new 52-week high of $20.60 per share. This means that the price of GLD has increased by more than 20% since its low point in the past year.

The rise in the price of gold and GLD can be attributed to several factors, including inflation concerns, geopolitical tensions, and a weakening US dollar. Gold is often seen as a safe-haven asset that investors turn to during times of economic uncertainty or market volatility. As such, demand for gold has increased in recent months, driving up the price of GLD.

It's worth noting that while GLD has hit a new 52-week high, it is still below its all-time high of $196.80 per share, which was reached in April 2011. Additionally, the price of gold and GLD can be highly volatile, and investors should always carefully consider their investment goals and risk tolerance before making any decisions.