by David Levenstein, Gold Silver Worlds:
s gold’s bottom in? That question is top of mind of all gold enthusiasts. Of course, the bears still believe that gold will go through a hard landing.
The truth is that we are seeing mostly signals of a trend reversal, both in the very short run as well as in the bigger picture.
First, starting with the GLD, as we discussed in Why Increased Western Gold Demand Could Lead To A Gold Supply Shortage, the GLD ETF gold holdings increased from 793.16 tonnes on Jan 31st 2014 to 803.7 tonnes on Feb 27th 2014. That trend has continued in the past week. Tim Iacono writes today that the GLD has added 7.5 tonnes to its holdings for the third time in the last 8 weeks. These are the biggest daily inflows the trust has seen since late-2012 and they signal renewed interest in the metal by U.S. investors.
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