SPDR Gold Trust (ETF) Showing First Bullish Signs In 2014
Gold Silver Worlds: The GLD ETF, which accounts for 36% of global gold ETF volume, is an imporant measure for Western gold investment interest. The GLD has shown an imporant exodus of gold holdings since the crash of the gold price in April and June 2013. It seems the tide is turning. We explained why that could be an extremely important in “Why Increased Western Gold Demand Could Lead To A Gold Supply Shortage.”
The two important signals we see in the latest update of the GLD charts at Sharelynx.com can be observed from below charts.
The first chart shows that the gold backed by the GLD fund is showing a first sign of increase, after it seems to have set a bottom. Look at the black line, in particular the small rise in June/July 2014.
Furthermore, the number of GLD shares has been above average in June 2014 and in particular at the start of July 2014, see the second part of below chart. One can observe that the number of shares has hit the higest peak in June for the first half of the year.