Total global gold ETFs were up ~53koz yesterday to 56.793Mozs. They are up 9.881Mozs so far in 2016 ….
Source: Bloomberg
Above is a graphic outlining the strong buying in Gold ETF's since January 2016. A total of 9.8 Mio. ounces of gold were bought. One can only hope that these buyers are long-term holders and do not sell the holdings if gold prices come under pressure again.
We have seen in the past the damage ETF gold holders are able to do to the gold price if they start to liquidate.
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Commented on MasterMetals