Spyder Watch, page-268

Tonnes of gold in Spyder increased by 26.43 tonnes and the value of the gold in the Spyder trust increased by US$1,839,026,879 last week

Despite the paper price of gold falling into the lead up to the Brexit vote last week the tonnes of gold in Spyder remained on the rise.

Since moving away from the 800 tonne support line at the end of April 2016 the tonnes of gold held in the Spyder trust has shown very little sensitivity to the gyrations that have occurred in paper markets. This would indicate to me that investors in this gold ETF are taking a longer term view on their gold investments compared to their colleges in the futures markets who are herded around like sheep chasing tenuous and ever increasingly hard to read patterns on charts. Eshmun