Featured Post

Latest Gold News

Gold may do even better in second half   Japan the new frontier for gold mining? Russia, China preparing to conduct energy transaction...

Thursday, February 21, 2013

SPDR Gold Trust (GLD) Rocked with Biggest One Day Outflow

SPDR Gold Trust (GLD) reported it experienced its biggest gold outflow of gold for one day since August 2011. Gold bullion held by the ETF fell by 20.77 tons on Wednesday when the market made a big correction.

Much of this was the result of the orchestrated move by the Federal Reserve to allow the appearance some of its members are questioning whether it should continue with its quantitative easing policy even if it doesn't reach its unemployment target.

A hedge fund rumor floated throughout the day that one had to sell a lot of gold to cover itself. That proved to be unfounded, although combined with the Fed minutes and uncertain economic outlook made for the perfect storm to drive the market and price of gold down.

After the outflow of gold, SPDR currently holds about 1,300 tons of gold. The highest amount it has held as in the last month of 2012, when the total reached 1,353 tons.

Most of this is benign, but it did plant the concern in some investor's heads that the bull gold run may be nearing an end; undoubtedly one of the reasons the Fed released the minutes.

SPDR Gold Shares closed Thursday at $152.62, gaining $1.18, or 0.78 percent.

3 comments:

Anonymous said...

Hello There. I discovered your blog the usage of msn.
That is an extremely well written article. I'll be sure to bookmark it and come back to read more of your helpful information. Thank you for the post. I'll definitely comeback.



my web site: paleo rezept

Anonymous said...

What i don't realize is actually how you're now not really a
lot more neatly-favored than you may be right now. You're very intelligent. You recognize thus considerably relating to this matter, made me in my opinion imagine it from numerous numerous angles. Its like women and men aren't involved
until it is one thing to accomplish with Girl
gaga! Your personal stuffs excellent. Always care for it up!



Also visit my page carb free bread

Anonymous said...

I read this piece of writing completely regarding the difference
of most up-to-date and preceding technologies, it's remarkable article.

Also visit my web blog; kohlehydratarmes brot