Is This The Reason Why Gold Is Suddenly Surging?

Total Gold ETF physical holdings rose 0.85% on Friday (following Thursday's 0.78% rise) combining for the biggest 2-day rise since Nov 2011 (adding 843,000 ounces of gold in 2 days). Of course these moves came right after the SNB decision ands are the largest since the peg was announced in 2011. GLD - the largest gold ETF - saw holdings surge 1.9% on Friday, the biggest single-day surge in almost 5 years.


TotalGold ETF Holdings surged 1.65% in the last 2 days


SPDR GLD ETF Holdings spiked 1.9% on Friday and 3.3% in the last 2 days - the biggest 2-day rise since May 2010...


Of course, once again this shows that only paper gold matters for price determination... physical is irrelevant (until of course, physical is all that matters).


Charts: Bloomberg


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