Tonnes of gold in Spyder increased by 27.35 tonnes and the value of the gold in the Spyder trust increased by US$1,636,467,705 last week (with the 4th of July holiday were no data was recorded).
Charts below.
Just some brief comments on my third chart. The text boxes on that chart were written in late March when the price trend reversal was in an early stage and not everyone was convinced that it was a true reversal. Coming into July I doubt you will find many people doubting the reversal now. Consequently some of the text boxes on that chart reflect my thinking in March so need updating to reflect current realities. I'm just going to leave them as is though.
The 800 tonne support level mentioned in that chart has not only re-emerged, it is well and truly behind us with the accumulation of gold in Spyder now increasing at a rate about as steep (but in the opposite direction) as that of the original panic sell-off triggered by the banksters massive short raid on the price in April 2013.
When I put the original trend lines on my third chart on 26 March 2016 they were intended to represent the upper bounds of the past and future expected price movement based on the long established down trend (since 12 April 2013) and the uptrend based on the first tentative shoots of the candles in the trend reversal. At the time of putting the future trend lines on that chart (in March) I said this.
http://hotcopper.com.au/threads/spyder-watch.2725809/page-3#.V4G4fJBJntQ
"The gradient of my future gold price projection may be a little optimistic so I've put another line on for those of us bulls that aren't quite that optimistic. The reversal gradient will probably match the recent decent gradient unless markets get very shaky in which case the gold price could move faster IMO. Esh"
What we have seen in the last weeks is a breakout above my "optimist" gradient which for me tells of strength ahead. The future will not come without retraces in the price as the usual suspects try and ply their ugly trade of hitting stops to skim profits from the sheep that play in their marginated paper casino, but even the sheep know a rising trend when they see one so the banksters will need to work harder to profit from the swings they initiate. As mentioned in the Bank Watch thread recently, some of the banksters are already switching sides publicly, the others no doubt are doing the same but on the quite IMO.
Eshmun
