June 4, 2009 (FinancialWire) — Dr. Joe Duarte (http://www.joe-duarte.com) recently noted: The SPDR Gold Shares (NYSE: GLD) ETF is struggling as the precious metal runs up into the $1000 price barrier.

Duarte added: Gold bugs are scratching their heads. The U.S. dollar is weak, the money printing presses are revving in high gear, evidence of rising prices is appearing everywhere, ie. commodities, gasoline, etc. and gold can’t seem to move above $1000.

That means that someone is selling as the metal gets near the key price level. And that means that it could be central banks, who at this stage of the fragile economic situation, don’t really want any kind of gold-led panic in the markets.

It could also be the inevitable hedge fund that’s in trouble and is looking to sell anything that is liquid to raise cash. But, there is little evidence of that right now.

It could also be that there are plenty of sellers who got into the market in February, as gold hit the $1000 area briefly, who have held on and are looking to get out even.

Duarte’s conclusion: No matter what, GLD is struggling. And as time passes, we could see a significant pullback. It’s a good time to be careful and guard profits in GLD.

(Disclosure: Dr. Duarte owns shares in GLD.)

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Duarte partners with the Investors Resource Center at Investrend Information (http://www.investrendinformation.com).

Duarte’s IntelligentForecasts.com (http://www.intelligentforecasts.com) provides free news coverage and analysis, and his daily articles and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Duarte has combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of: Futures And Options For Dummies, Successful Energy Sector Investing, Successful Biotech Investing and co-author of After-Hours Trading Made Easy. In early 2001, in Successful Energy Sector Investing, he correctly predicted that Venezuela’s political problems could lead to an energy crisis in the United States. He has also appeared as a weekly guest on Market Mavens Radio and has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.

One of CNBC’s original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990. His articles and commentary have been featured on CBS Marketwatch, Barron’s, Smart Money, Medical Economics, and in Technical Analysis of Stocks and Commodities magazines. In 2003, Doctor Duarte received second place, in the professional section, of the Medical Economics Investment Challenge with a 12-month return of 42%.

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