GLD, the biggest publicly traded gold vault, is a good example of what is going on in the entire precious metals industry.
Since middle February, despite GLD trading in a narrow range (yellow area at the chart below), as many as 5.8 million ounces of gold had flowed into the vault (violet line):
In my opinion, it is a bullish pattern for gold. When the price of gold is going nowhere and investors increase their gold holdings we should see price increases in the future.
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