During gold’s bear market from 2011, the flow of gold out
of ETFs drove the popularity of the West to East narrative not just among
goldbugs but also bullion market professionals. It was a life raft I suppose
that many clung to, to find hope as the price relentlessly fell,
notwithstanding how much gold was flowing into “the East”. Today, investors
have abandoned the raft as they step out on to the terra firma of $1050 and
stagger about basking in the lush tropical greenery of a rising gold price. Read more
here.
