By Otto Rock
If you go over to the dedicated site of the SPDR Gold shares ETF, better known to the world as GLD, there’s plenty of information to cut and slice. Here are two charts derived from just a couple of the datasets available.
This shows bullion holdings in metric tonnes since Jan 1st 2016. It takes in the pre-Trump world, the system shock of the US election, and all moments since then. Notice how, with some normal fluctuations, bullion held at GLD has been pretty stable recently.
However, if you divide bullion by gold price there’s a distinct decandence (taking into account the cut down Y-axes of course):
Chew those over and come to a conclusion or two. That there’s a lack of interest in owning gold among the Wall St jocks at the moment. And that there’s plenty of room for gold to run hard when that sentiment changes.