For investors seeking momentum, SPDR Gold Trust ETF (GLD) is probably on radar now. The fund just hit a 52-week high, and is up about 23.4% from its 52-week low price of $100.23 per share. But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed: GLD in Focus GLD tracks the price of gold bullion measured in U.S. dollars, and kept in London under the custody of HSBC Bank USA. It is an ultra-popular gold ETF with AUM of $33.2 billion and expense ratio of 0.40% (see: all the Precious Metal ETFs here). Why the Move? The precious metal space has been an area to watch lately given the ongoing market turbulence. In particular, the slew of downbeat data, weak corporate earnings and market instability perked up demand for the yellow metal as a store of value and hedge against market turmoil. Additionally, reduced expectation for a rates hike anytime soon will keep the appeal of gold bullion alive in the coming months. More Gains Ahead? Currently, GLD has a Zacks ETF Rank of 3 or ‘Hold’ rating, so it is hard to get a handle on its future returns one way or the other. It seems that this fund might remain strong given a high weighted alpha of 14.80% and a mediocre 20-day volatility of 15.97%. As a result, there is still some promise for investors who want to ride on this surging ETF. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SPDR-GOLD TRUST (GLD): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report