Total Gold ETF physical holdings rose 0.85% on Friday (following Thursday’s 0.78% rise) combining for the biggest 2-day rise since Nov 2011 (adding 843,000 ounces of gold in 2 days). Of course these moves came right after the SNB decision ands are the largest since the peg was announced in 2011. GLD – the largest gold ETF – saw holdings surge 1.9% on Friday, the biggest single-day surge in almost 5 years. Of course, once again this shows that only paper gold matters for price determination… physical is irrelevant (until of course, physical is all that matters).
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