from Gold Silver Worlds:
Gold’s big news story of 2013 was undoubtedly the price drop, followed by the huge gold ETF outflows.
It seems that the tide is turning now, both for the gold price and the ETF gold holdings. There is a good reason to believe that the new appetite for gold ETF’s is fundamentally much more important than a rising gold price. This article makes the case for that.
After the steep gold price drop in April 2013, we discussed the mass exodus of gold holdings in the GLD ETF (see this article):
- GLD holdings in the first week of January 2013: 43,149,400.96 ounces [1342,96 tonnes]
- GLD holdings today: 33,386,040.80 ounces [1038,42 tonnes]
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