GOLD 0.51% $1,391.7 gold futures

Durk "I cud not see how Skol was thinking the drain on the...

  1. 7,423 Posts.
    lightbulb Created with Sketch. 152
    Durk

    "I cud not see how Skol was thinking the drain on the vaults was a weakening factor for gold."

    So GLD is selling its gold, and emptying its vaults, so who bought the gold?

    - If it has been purchased by another long term investor, then the impact on the price of gold in neutral.
    - But if (as is more likely the case) it has been sold to short term trader (AKA a LBMA price maker) the gold is now for sale and its presence in the market will weigh on the price.

    I don't think there is much doubt about who has been buying the GLD gold over the last three years....

 
watchlist Created with Sketch. Add GOLD (COMEX) to my watchlist
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.