Tuesday, September 26, 2017

IAU Still Adding Fresh Gold

I have not seen this before - iShares Gold Trust (IAU) is accumulating gold as if something big was to happen. For example, today this trust added the second highest amount of gold this year (74 thousand ounces). Note that today we saw big drops in gold / silver prices (0.75% and 1.54%, respectively) but...IAU investors do not care and are adding gold:

What is more, GLD has reached its strong support at around 123.0 (the yellow area on the chart below):

source: Stockcharts.com

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