Sunday, June 5, 2016

More Gold In GLD Vaults

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.

No comments:

Post a Comment