Thursday, November 10, 2016

All Quiet On The Western Front

Yesterday's election spree was a buying opportunity for gold investors. Not caring about huge price volatility they added 171.6 thousand ounces to GLD vaults.

Look at the chart below. It shows that lower prices of gold (the line marked in green) are considered as a buying opportunity. Since early July the price of gold went down around 7% but GLD holdings are, more or less, at the same level (the line marked in red):

As Erich Maria Remarque once said: All quiet on the Western front"

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