GLD is the ticker symbol for the ETF representing Gold, which is a sub-optimal way of trading the precious metal given the limited trading hours. Far more popular is trading the futures contract, which goes by the ticker symbol of GC.
I trade Gold with a longer-term horizon, however, so the ETF suits me fine and since that’s what I trade, that’s what I’m going to analyze.
Gold is great as a macro vehicle because it doesn’t have a direct correlation with anything. It’s often called the anti-dollar and yes, there can be a relationship. But that is hardly lockstep and Gold moves so much, so quickly that it can create some great momentum and trend situations; along with some great swing trades in between given its adherence to support and resistance, particularly Fibonacci levels.