StreetTracks Gold ETF Kicks China Off Top Ten Gold Holdings List

At least until the World Gold Council updates their statistics, the streetTRACKS Gold Shares ETF (NYSE:GLD) has displaced China from the top ten list in gold holdings with the addition of 18 tonnes on Tuesday.

Here's how the new list might look, that is, if the World Gold Council chose to include private holdings of gold bullion along with those reported by central banks and other organizations such as the IMF.

Man, I can't believe that I made up this table and didn't realize that the GLD ETF passed the European Central Bank [ECB] as well and is now in 9th place and not 10th as shown below.

Tuesday's addition of 18 tonnes to the trust was the largest single day share creation in almost two years. You have to go back to January of 2006, after the price of the metal first rose through the $500 level, to see a larger single day share creation.

[Note the wording above and below - a reader provided guidance on the correct terminology when this chart was last shown here. The fund does not actually buy and sell bullion but creates and redeems shares that correspond to bullion that is purchased and sold by broker/dealers.]

Netherlands - you're next.

Comments

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China has a interesting comment about it's dealing in the silver&gold markets at silverseek.com. It has some real things to bear to thought.

[dfinn]

the gold market needs more data based investor guidance before it can ever go mainstream for the average investor. Articles like this help. Thanks.

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I wonder if Congress will ever make the SEC enforce the laws? There is so much that stinks in the metals markets, What would happen if those were exposed, This is crazy, the laws to keep out the crooks out are being used to let them set the price. If they were made to open the names of these few infront of the full congress, how many of the members of congress will find there butt in a world of shi!!!. I have read to much on this subject for there not to be some sort of a investagation into it. Any one else with any thoughts on this, or I to beleive that the COT reports are wrong?