GLD - Update

Most recently, although gold is still leaving GLD vaults, the outflows have been lower (the green arrow):

I would say that the selling pressure is less intensive than it used to be in October and November 2016.

Now, a quick look at yearly changes:

As the chart shows, 2016 was positive for gold - 180 tons of gold went into GLD vaults, which is a positive sign for gold in the long - term.

However, as I repeatedly stated - as long as there are no inflows of gold into GLD the chances for a renewed leg up in gold prices are weak.