This is the latest post by our friend Tim Iacono. Here is Tim’s summary of the post:
- A surprising 4.5 tonnes was added to the GLD trust yesterday as prices tumbled.
- This behavior is very uncharacteristic of U.S. investors who, last year, sold when prices fell.
- This could signal a major change in how U.S. investors think about gold as an investment.
I have long said we need western investors to take a more possessive stance when it come to investing in gold and the ETF flows are a major player. Although the inflows are not major, any inflows are a big deal compared to the mass outflows we saw over the past couple years.