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

The SPDR Gold Shares ETF price gained 0.324% on the last trading day (Thursday, 29th Jan 2026), rising from $494.42 to $496.02. It has now gained 8 days in a row. It is not often that ETF manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the ETF fluctuated 8.79% from a day low at $468.51 to a day high of $509.70. The price has risen in 8 of the last 10 days and is up by 16.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 million more shares were traded than the day before. In total, 69 million shares were bought and sold for approximately $34.44 billion.

The ETF has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $449.91, a level that may pose a second chance to hit a runner.

Mostly positive signals in the chart today. The SPDR Gold Shares ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $469.21 and $419.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, December 31, 2025, and so far it has risen 25.16%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

SPDR Gold Shares finds support from accumulated volume at $494.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $41.19 between high and low, or 8.79%. For the last week, the ETF has had daily average volatility of 3.51%.

The SPDR Gold Shares ETF is extremely overbought on RSI14 (95). Normally this may pose a good selling opportunity but since the ETF has broken the trend up, the chance for a major correction due to high RSI is very small as the ETF will find support at the trend broken.Since the SPDR Gold Shares has been rising for 8 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the ETF is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Several short-term signals are positive and the ETF has broke the rising trend up, which indicates an even stronger rate of rising. 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 period.We have upgraded our analysis conclusion for this ETF since the last evaluation from a Hold to a Strong Buy candidate.