(Editor note: the question is where will GLD find the physical gold to replace the inventory that was sucked East in 2013?)
The mighty GLD gold ETF’s bullion holdings have remained stable in 2014, an impressive feat. Last year they suffered an epic outlying record plummet as the Fed’s stock-market levitation sucked capital out of alternative investments. (and as the East sucked every ounce of AU out of the vaults)
This year’s resiliency in the face of the ongoing stock-market melt-up almost certainly means the bottom is in. GLD’s holdings are set to surge as weaker stock markets entice traders back.