Traders and investors diversify their portfolio with Gold ETFs. The yellow metal is not only used to hedge against inflation, but also is considered a safe asset, which means that its price typically climbs when stock markets are volatile or on a downtrend.
On CNBC’s “The Final Call,” Carter Worth of Carter Braxton Worth Charting recommended traders to buy VanEck Gold Miners ETF GDX and SPDR Gold Trust GLD and sell SPDR S&P 500 ETF Trust SPY.
Check out stocks making moves in the premarket.
Mike Khouw of Optimize Advisors seconded Worth’s recommendation of going long on VanEck Gold Miners ETF.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Carter Braxton Worth ChartingCarter WorthCNBCMike KhouwOptimize AdvisorsLong IdeasShort IdeasOptionsTop StoriesMarketsMediaTrading Ideas