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GLD ETF Holdings Surge Most In Three Years As Gold Has Biggest Daily Drop In 2014
Today saw the mainstream media congratulate themselves over the demise of the anti-status-quo indicator - gold. The precious metal dropped over 2% on the day amid major volumes in futures - its biggest drop in 2014. However, it seems the GLD ETF decided today's dump was the right opportunity to load up on the "put against the idiocy of the political cycle," which saw its largest inflow since August 2011. The ongoing oscillation between the paper and physical markets (amid the chaos that China's Qingdao ponzi has created) appears to have shifted trend as the last 2 months has seen the biggest net inflows in 2 years (since pre-German gold repatriation).
with consistent inflows the heaviest since German repatriation requests began...
Makes one wonder if that "rumor" of German cancelling its gold recall had something to it...
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The Germans have decided to hold GLD shares rather than gold. They're cheaper to transport and store.
Or alternately GLD is loading up on physical cause it has asked its big players and gotten feedback on just who will be asking for Physical. Maybe Germany fits in that group.
This is not a bad time for them to load up, given that they know the future....
This makes a lot of sense.
If the takedown wasn't due to a big bank dumping in a panic, then the next most logical thing given this buy is that the big players approached GLD and arranged a takedown so GLD could suck up volume at a low.
Somewhere in the very back on my mind, I keep thinking that the banksters need to "flush out" their 100:1 paper gold claims at the lowest possible cash price before the price goes up. Just like ABN Amro did in March of 2013 when they announced to their customers that they would be paid in cash the equivalent of their physical gold holdings. So if we are just about to resume the bull market in gold then this massive cash against paper claim settlement should be in the pipeline and come out in the open sooner rather than later. Just saying.
If they do that, that will be a good sign of something near the bottom of the gold price.
I, personally, would use a few banksters hanging from light posts as another such indication, but I believe my bloodthirsty needs will not be served.
"Wait eine second... I can buy GLD wis Euros and zen convert it into Geld?!? And I am ze only sing holding up said Euro, but the stupid americanish stole my geld?!?!? Well,...zen I vill buy all of GLD vis Euros and zen simply leave the Euro. Wunderbar!"
The stupid americanish stole your geld because you treated it as physical gold. If you had treated it as paper gold, it is a different game, your request would have been followed by the WS scum.
Plus there is a bit of fine print that says big GLT cheeses can get physical, so Germans are smart enough to put one and one to get two....
Or it just means that gold is plentiful...
Or it just means that the inventory increase is TOTAL BULLSHIT fabrication in the full knowledge that investors are starting to become informed and smell blood in the water of the 100:1 leverage
Does anybody know what happend to GLD RIGHT AFTER Aug '11 ??? Went up 80 bucks for a month then dropped by $720 over the next 3 years
You must have been the cunt that I sold to in August, 2011. Thanks!
You silly person. That was at the end of a sub cycle. This action is at the beginning of a sub cylce. Perhaps try to have a more complete analysis.
"Gold"
The Big Kahuna is oil...not gold. If energy prices collapse (again...coal has already been annihilated) that would mean a trillion in leverage wiped out "in a New York minute."
And that's just for starters. Junior miners got slaughtered today.
Either you don't have a very good selection of junior miners or your idea of "slaughtered" if hyper sensitive. I have an account with 14 junior miners in it, and it was down 0.34%. If I didn't have Kaminak in it (UP 29.63% today), I would be down about 1.3%. Seems pretty benign to me.
Agree -- watch the acquistions in the juniors and explorers in the coming months. There's a bid under those with the goods.
Agreed.........You cant burn or eat bling.
Why do so many peole lack common sense?
You cant burn or eat bling.
If bling is the nickname for your wife's coochie.
It's all a set up for the absolute shit that's about to explode the gold markets. Today was about trying to save as many moronic shorts as possible - the last 3 COTs show the picture - the banks were massively net short and had to burn the specs today to try and save themselves because as the immediate global picture burns (Iraq and Ukraine) combined with the Geofinancial picture (Argentina default and Espirito default) combined with the OBVIOUS bubble in US Equites - PMs will have an incredible 2nd half just like they did in the 1st half and all today was about, and perhaps most of the upcoming week will be about, is trying to unwind the commercial shorts as complete as possible before it all finally goes boom.
And of course, it's going to go boom sooner rather than later... we all know this and that's why today shouldn't matter. Just keep stacking...
SilverIsMoney -
u got it down packed...
cheers.
Would you use money that has a bid/ask spread of 3% to 7% when you had to buy or sell something tangible? How long would it take you to debase your own wealth under such a "hard currency " system? .............about 10 to 35 transactions ONLY
not worried about bid ask spreads and havent been since 07'...
not trading...never have and never will...my real money aint for that and my reasons for accumulating is about more than wealth THAT HAS BEEN PRESERVED under a NON-REAL MONEY paradigm... see the word liberty for reference.
as for the other "10 to 35 transaction" nonsense...yeah ok...whatever you say man...
i repeat...Silver stacker since 2007...guess youve had a peek at my books and know my numbers.... (hee, haw.)
have fun in their casino...im resting comfortably outside of it.
Welcome back, Top Gear.
4 years, 4 comments. All today. Wow.
Funny, he brought out the prick in me. Kinda like the cheerleader at my first highschool football game.
pat
Sounds like an entirely reasonable hypothesis Silver. I concur and would add that today was an orchestrated slap down in anticipation of the inevitable upward surge. Yellen has no choice but to maintain ZIRP. The US will continue to spend as though there is no tomorrow...and there may very well not be.....that is what drives the Japanese btw - the idea that there will be no tomorrow, so why not ZIRP and QE away? Any other logic would indicate insanity.
i beleive you are correct, but i also think Yellen is clueless enough to try to raise interest rates - and then the ferocity of the fire will cause her to back off and continue, as you say, with ZIRP
Yup - despite a MASSIVE effort, they couldn't run the stops below $1300 today, which I believe was the goal.
That said, it looks like the "EXIT" door is getting smaller by the day for paper holders, long AND short.
Also looks like somebody had to produce some serious physical, PRONTO!
The way GLD is SUPPOSED to work is, inventories INCREASE when the price of AU goes UP.
Pretty soon, folks will realize that like politics, it's all a sideshow act - "Longs vs. Shorts" = Dem's vs. Rep's.
UNLIKE politics, the metals market has a Paper vs. Physical, ie, Fantasy vs. Reality check, that will eventually expose the bullshit "paper" market.
Unfortunately, politics has NO such "Honesty Check" equivalent to Physical PM's............
Sheeeit. This ain't nothing. Prepare yourself for violent 5-10% daily mostly up roller-coaster action.
And that is the short-term outlook!
(February 2015, floor of NYSE) Santelli: Holy Moses, gold just DOUBLED!!!! (falls to the floor, EMTs place his spasming body on a stretcher)
What would be very funny is Liesman just shuts down into a quiet dead faced moron, crushed by gold.
Off topic but I just read Bill Holters article from today. It's fantastic and I recomend it.
Link for the lazy: http://blog.milesfranklin.com/my-opinion-while-i-am-still-entitled-to-it
Thanks for the link. A good read.
The Germans must be fucking jealous as hell - GLD picks up 8 fucking tons in 1 day and all they've received from the FED is a few pounds of recycled jewelry.
If the Germans had said we are going to open up a German GLD where we repothicate physical gold 65 times and sell the paper, just like GLD they would have had their gold delivered before they faxed the request.
The Germans should have asked for their gold in 1989/1990 when the Soviet Union broke up. Waiting till the US will break up wasn't a wise decision.
Do you think the Germans are going to do everything in their power to fuck over the dollar? Duh...
GLD was far behind the curve. They didn't buy when they actually had to as they have to track their holdings. They were gambling and hoping for a cheaper price tag. Today they took the opportunity. If not now then when?
And the gold raid today gave Yellen the chance to be a bit more relaxed tomorrow. Good luck not tanking the markets, Janet!
Another day of a Draghi speak, another day of a gold crash...
India is leasing it's gold. Not suprisingly for 60 year old American dick lickers. I'd hoped they'd outgrown that. But they are what they are.
They seem to think that if they suck enough Wall Street cock eventually they'll get to sit at the big table.
Isn't one of the Cartel rules "Thou shalt never let gold rise more than 2% per day" I guess the inverse does not apply.
Isnt the world cup trophy 7 tons of .9999 gold?...call it square!
Very likely they dropped gold today because they fear what Mr. Yellen will say. Pretty good chance that the testimony will come out very dovish, and there is always a chance that Mr. Yellen will say something stupid (again). Can't have gold spiking $20 off a higher price point.
Didn't I read that the BRICs were having talks today about ditching the 'dollar'? Last night's Moonlight Madness may have been connected to this party.. They also pumped the USD index starting at 3 AM.
I wonder what (if anything) was decided there.