Stronger technical forecast for SPDR Gold Shares ETF price after Monday trading

The SPDR Gold Shares ETF price fell by -4.00% on the last day (Monday, 2nd Feb 2026) from $444.95 to $427.13. During the last trading day the ETF fluctuated 4.31% from a day low at $422.55 to a day high of $440.78. The price has risen in 8 of the last 10 days and is up by 1.38% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -45 million shares and in total, 41 million shares were bought and sold for approximately $17.54 billion.

Given the current short-term trend, the ETF is expected to rise 22.60% during the next 3 months and, with a 90% probability hold a price between $523.67 and $611.83 at the end of this 3-month period.

The SPDR Gold Shares ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the ETF. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $465.88. On a fall, the ETF will find some support from the long-term average at approximately $422.43. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, January 29, 2026, and so far it has fallen -13.89%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

SPDR Gold Shares finds support from accumulated volume at $422.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this ETF is considered to be "high risk". During the last day, the ETF moved $18.23 between high and low, or 4.31%. For the last week, the ETF has had daily average volatility of 5.58%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SPDR Gold Shares ETF to perform well in the short-term.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold to a Buy candidate.