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Best Day For Gold Since September 2013

By Tyler Durden
Created 11/07/2014 - 16:24
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 11/07/2014 16:24 -0500



 

Following a heavy volume flush and reversal around midnight ET, gold prices surged today. The 3.3% rally is the best day since September 2013.

Best day in 14 months...

[2]

 

With a big flush reversal overnight...

[3]

 

With GOFO at its most negative since 2001... indicating 'scarcity' of physical gold among institutions [4]

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And ETF holdings slammed back to levels first seen in March 2009...

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Charts: Bloomberg

 

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Source URL: http://www.zerohedge.com/news/2014-11-07/best-day-gold-september-2013

Links:
[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2014/11/20141107_EOD10.jpg
[3] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2014/11/20141107_EOD8.jpg
[4] http://www.zerohedge.com/news/2014-11-06/physical-gold-shortage-worst-over-decade-gofo-rate-tumbles-most-negative-2001
[5] http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2014/11/GOFO%201%20Month.jpg
[6] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2014/11/20141107_GLD1.jpg