The chart shows daily gold flows reported by GLD. Generally, gold outflows from GLD vaults have a negative impact on the prices of gold. Notice that whenever there is a red bar (gold outflow) the prices of gold go down or, at least, do not go up. And vice-versa, green bars (gold inflows) have a positive impact on the prices of gold.
Therefore during corrections (the area marked in yellow) we see more red bars and during a move up the green bars dominate.
However, most recently (this and last week) the red bars occur even during positive trading days (when gold prices go up). For example, yesterday as many as 457.7 thousand ounces of gold went out of GLD vaults.
It looks like somebody wants to bring gold prices lower. The similar situation took place in late March 2016. The increased outflows of gold from GLD extended the correction by a few weeks. But later on the prices of gold renewed their march up...
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