Despite Gold Prices Correction, Investors In The West Are Still Accumulating It

Gold prices are going down, at last:

source: www.stockcharts.com

Since their record high, printed in the beginning of March, gold prices retreated around 6%. However the investors are still accumulating this metal.
Please, look at the chart showing the weekly inflows / outflows of gold, reported by the GLD SPDR Gold Trust:

                 source: SPDR Gold Trust Shares and Simple Digressions

Although the weekly inflows are much lower than those reported in February and in the beginning of March, this ETF is still adding gold into its vaults. In my opinion, it is a bullish pattern.