"So that was a month ago and premiums have fallen further since. This is actually good news as the article explains... the Chinese are easing their import restrictions to bring in more gold to meet demand"
If my memory serves correctly GLD holdings at the $1180 low in June were 970 tonnes, having fallen from their peak of 1350 tonnes at the beginning of this year.
As of yesterday GLD holdings had dropped a further 100 tonnes to 872t, yet the gold price had RISEN to $1350/oz.
In my book that's positive divergence as prices are rising despite continued investor (Western) selling... in other words, global buying pressure is now greater than the selling pressure
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