Gold Magically Flows Back Into The GLD
by Turd Ferguson
TF Metals Report
Even without speculating whether or not the GLD actually holds all of the gold that it claims, the remarkable additions to “inventory” over the past month are certainly noteworthy.
It has been well-documented that, as price was run down from $1800 to $1050, massive amounts of “gold” flowed out of the GLD. Total “inventory” reached a low on 12/17/15 when it showed just 630.17 mts. That’s a total loss of 719.75 mts of “gold”. This is a little over 23MM troy ounces or about 57,851 London Good Delivery Bars. Stacking 192 bars/pallet, this fills out about 301 of these:
[...] (Please pause for a moment to consider the sheer magnitude of this amount of gold.)
Well, this pattern of depletion appears to have ended and we’ve often wondered from where the custodian, HSBC, would source gold when interest in the ETF inevitably returned. That’s a topic for another day, I suppose.
Continue Reading at TFMetalsReport.com…
Source: http://financialsurvivalnetwork.com/2016/02/gold-magically-flows-back-into-the-gld/?utm_source=rss&utm_medium=rss&utm_campaign=gold-magically-flows-back-into-the-gld
