function Backup_GPO {

    $stamp = Get-Date -UFormat "%m%d"
    New-Item -ItemType "directory" -Name $stamp -Path \dc-16shareGPO_Backups -Force | out-null # create new folder to specify day backup is made
    Backup-GPO -All -Path ("\dc-16shareGPO_Backups" + "$stamp" )
    $folders = Get-ChildItem -Path \dc-16shareGPO_Backups$stamp
    ForEach-Object {
        # I want to reference the current folder here
        [xml]$file = Get-Content -Path (folder that is being referenced in for loop)gpresult.xml
        $name = $file.GPO.Name
    }

for object in list:
    print(object)