Gold Fields Limited (NYSE: GFI) is also forming a consolidation, near its 50-day moving average, having peaked on May 4, the same day Alamos and the GLD ETF rallied to highs. The SPDR Gold Shares ETF (NYSEARCE: GLD) returned 7.92% in March, although it, too, began correcting in May. For example, economic indicators, such as inflation, interest rates, and geopolitical events stability can impact the demand for gold as a safe-haven asset.