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hercules007

4,526 Posts.

110

08/11/14

09:23

Post #: 14256643
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Originally posted by hercules007 ↑

GLD inventory this morning was 727.15tons, a decline of more than 5tons: http://www.spdrgoldshares.com/

Price of gold surged $30+.

No positive correlation found between GLD inventory and POG today.

I submit that the loss of GLD inventory recently is a result of unit holders redeeming GLD units for gold, real gold, to be taken off the market place, not a result of selling their units on the secondary exchange market.

Remember, GLD units are traded on disallowed, and 10 GLD units equals 1oz of gold.

When GLD loses gold inventory, its manager will have to cancel the units related to the lost gold ounces. This way, let's just assume, that the real gold taken off from GLD is staying on the market place as a potential supply, then the cancelled GLD units represents a shrinking of same amount of gold supply on the paper gold market. Anybody seeing the absurdity in this line of thinking?

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The logical conclusion should be: physical gold is moving out of the western market place.
7 Upvote

0 Great analysis

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