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).
[2]
with consistent inflows the heaviest since German repatriation requests began...
[3]
Makes one wonder if that "rumor" of German cancelling its gold recall had something to it...
Source: SPDR [4]
