TrimTabs Investment Research said on Wednesday that the net inflows into gold ETFs are the highest in 12 months. Last Thursday during the near 1,000-point plunge in the Dow Jones industrial average, gold ETFs saw net inflows of US$1.1-billion, TrimTabs said.More than a billion for bullion in a day. Soon, it'll add up to real something.
Thursday, May 13, 2010
Inflow Into Gold ETFs Over Last Six Trading Days Reaches $2.3 Billion
The reporting of tonnes' inflow into the SPDR Gold Shares Trust (GLD) is pretty antiseptic; the Finanacial Post has put a dollar figure to the flood. In the last six trading days, US$2.3 billion has headed into GLD and its likesakes:
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Wow! That's a lot of Dollars, and at an average gold price of $1230/Oz would be equivalent to 1.92 Million Ounces of Gold. Considering that the registered amount of gold on the Comex is 2.49 Million Ounces it's even more impressive for just a 6-day period (http://www.cmegroup.com/trading/energy/files/Gold_Stocks.xls)
ReplyDeleteJohn