The statistics for the streetTRACKS Gold Shares ETF (NYSE:GLD) indicate an additional eight tonnes were added to the trust on Monday. Is this important in any way?
On the eleven previous occasions since last August when eight tonnes or more were added to the trust, the price of gold was, on average, $71 higher just 30 days later.
They seem to have a knack for buying low and then watching the price go higher.
Full Disclosure: Long GLD at time of writing.
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