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Purpose2012
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GLD Exodus Reversal

- Adam Hamilton - Zealllc

An interesting (though too long for my liking !) analysis of the dynamics of GLD; but I think its opening assertion - "The capital fleeing this single vehicle was the primary reason gold plunged so dramatically in 2013's first half" - is as myopic and misleading as B****berg's standard statement that prices fell "...as some investors lost faith in the metal as a store of value" (or some similar phrase).

This is totally ignoring the well-documented, concerted (and probably illegal) sale of 400 tons (about $20 billion worth) of 'gold' in the space of 2.5 hours on 12th April, which precipitated the huge drop in the spot price - see for example http://1goldinvestment.com/gold-crush-started-with-400-ton-friday-forced-sale-on-comex/ , or http://www.mining.com/web/gold-the-hidden-agenda-behind-the-bear-raid/ .

IMHO, you're putting the cart before the horse. Outflows from GLD are an effect, not the cause.

Commented 3893 days ago

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Beginning of the headline :The flagship GLD gold ETF has suffered a radically unprecedented mass exodus this year.The capital fleeing this single vehicle was the primary reason gold plunged so dramatically in 2013's first half.But just this week, money started flowing back into GLD for the first time in months.This likely marks the dawn of the GLD exodus's reversal, which is wildly bullish for gold.Falling stock markets will play a critical role.The GLD gold ETF is now formally called SPDR Gold Shares.Rising from modest b... Read More

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