I am talking historic lows in NCM and the XGD, both are very, very close, the lowest in 10 years.
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SPDR Gold Trust down another tonne yesterday. From a peak of about 1450 tonnes it's now 863 tonnes.
Bernanke says the Funds rate can remain near zero 'well after' unemployment rate hits 6.5%.
Not what goldbugs want to hear, they're looking for Weimar Republic-style hyperinflation that was never gonna happen.
In spite of Bernanke's speech today, Gold is holding well, just above 1275USD.
Top 16 Gold ETFs are now a mixed bag with some that were previously selling now buying:
http://etfdb.com/type/commodity/prec...tals/gold-etf/
Interestingly, there has for a while been more demand for Silver ETFs than for Gold. Here's one of the better performing ETFs:
http://seekingalpha.com/symbol/zsl
...and so as Gold and Silver prices get support associated with an increase in demand (assuming normal demand/supply price theory economics still holds!) any diggers mining both should lift well. Anyway, that's my theory and I'm trading to it.
BC
[QUOTE=stevo1;443095]Ja mein Höchstes Wesen.
Ich werde nie anderer Meinung als Sie wieder.
Wenn die Revolution kommt werden sie der erste, der auf.
Zieg .......[/QUOTE
痴人说梦
Do you know many physical holders who are selling now? The opposite seems to be the case (especially in China and to a lesser extent India). The way I figure it, most of the PoG price pressures are due to paper trading -- and much of this paper 'Gold' and 'Silver' have no undisputed real physical metal backing.
Paper and digit worshipers may be having a ball while physical holders (including shareholders in miners with bullion) sit wondering at this madness, but as with most drug-fuelled partying, it won't last because it's not enduring, whereas physical metals are.
Once the erosion of trust gets to critical mass, watch the hangover and panic begin.
Buy gold...and I don't mean ETF derivatives.
BC