Sizable July inflows for gold ETfs


The SPDR Gold Trust (GLD -0.3%) saw 11.1 tons of new gold last month, according to the Commerzbank team. Tossing in the iShares Gold Trust (IAU -0.3%) and the rest of the gold complex, about 15.7 tons came in, making it the largest monthly inflow since November 2012. For 2014 in total, tough, there remain net outflows to the tune of 30 tons.

Outflows have been blamed for mostly falling prices over the last year-plus, but July's inflows may have helped staunch an otherwise tough month for gold.

ETFs: GLD, IAU, SGOL, UGL, DGP, GLL, UGLD, DZZ, GLDI, DGL, DGZ, OUNZ, DGLD, AGOL, TBAR, UBG, GLDE, GYEN, GLDL, GLDS, GEUR, GGBP

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Comments (15)
  • Doug Eberhardt
    , contributor
    Comments (4894) | Send Message
     
    Lots of gold bug newsletters were calling a bottom. Even Richard Russell.

     

    Then you have those who are always bullish like Mike Maloney and Peter Schiff.
    5 Aug 2014, 11:58 AM Reply Like
  • hummerh25
    , contributor
    Comments (99) | Send Message
     
    China is dumping, sell
    5 Aug 2014, 12:07 PM Reply Like
  • David at Imperial Beach
    , contributor
    Comments (4381) | Send Message
     
    China is not dumping. Where did you hear such ridiculous news? China sales are down 19% y-o-y, but 2013 was an exceptional, unsustainable year because of the steep price declines putting gold "on sale".

     

    Even with China being down, demand still exceeded supply in Q1. We should have numbers for Q2 out shortly and I expect to see the same in Q2.
    5 Aug 2014, 12:28 PM Reply Like
  • 6151621
    , contributor
    Comments (1172) | Send Message
     
    @David: Along this line one would compare to 2012 level. 2014 is still ahead of 2012 volumes. And in any case it would be buying less, not selling -- there is a difference, hummer.
    5 Aug 2014, 02:10 PM Reply Like
  • filipo
    , contributor
    Comments (4662) | Send Message
     
    David, here are China's latest figures of import: 671 MT YTD :

     

    http://bit.ly/1pB1ZqT
    5 Aug 2014, 03:30 PM Reply Like
  • 6151621
    , contributor
    Comments (1172) | Send Message
     
    Great chart filipo (by Koos). This shows 2014 imports greater than 2012. I wonder if Koos is right that China really has accumulated 15 000 tonnes. I don't think many people believe this.
    6 Aug 2014, 06:20 AM Reply Like
  • filipo
    , contributor
    Comments (4662) | Send Message
     
    615,
    I have no clue myself.
    All I can do is rely on what other people, experts, say.
    I suppose the 15K tonnes include PBoC's and private hoarding overtime ?
    In that case it could be reality given that it is universally known India detains 18K tonnes.
    Don't forget China has also become the largest producer.
    6 Aug 2014, 12:21 PM Reply Like
  • 6151621
    , contributor
    Comments (1172) | Send Message
     
    Yes filipo PBoC did seem to include something else. Official reserves are still 'officially' in the 1000 tonne range but I think this is Koos' estimate. He does have a link describing more on his method which I don't recall all the details but I do think it made more sense than WGC method.
    6 Aug 2014, 01:05 PM Reply Like
  • Rick1210
    , contributor
    Comments (6) | Send Message
     
    Peter Schiff is dropping his daily radio show at the end of this month after 4 years
    5 Aug 2014, 12:10 PM Reply Like
  • King Rat
    , contributor
    Comments (1834) | Send Message
     
    Says who? Not that I care. I stopped listening to him when I realized he had no concept of money velocity. His simultaneous predictions of rising gold and falling real estate require money velocity simultaneously moving in opposite directions. In other words, he doesn't know what he's talking about.

     

    As for gold, I may double the share of mining stocks to 10% if I see some sustainably positive action in gold and I hope that time comes soon but I see no evidence of it today. Having it at 5% is something psychologically reassuring to clients because it represents "diversification" even if that 5% does not provide a positive return.
    5 Aug 2014, 01:30 PM Reply Like
  • dmiller005
    , contributor
    Comments (4) | Send Message
     
    I love it ! As soon as many otherwise 'gold bugs' start throwing in the proverbial towel, the price is certain to go up.
    5 Aug 2014, 12:38 PM Reply Like
  • Brian58
    , contributor
    Comments (312) | Send Message
     
    August is in backwardation.
    5 Aug 2014, 02:18 PM Reply Like
  • Brian58
    , contributor
    Comments (312) | Send Message
     
    Silver inventories draining: http://bit.ly/1pB1ZqT
    5 Aug 2014, 02:20 PM Reply Like
  • james.
    , contributor
    Comments (1377) | Send Message
     
    Today's Marketwatch.com article on the drop in today's DJIA needs to be updated by stating the fact that a steep plunge in DJIA in the recent 30 minutes has been accompanied by a simultaneous bidding up in Gold & Silver prices, GLD & SLV, along with Gold & Silver Stock Equities in the HUI Index (Gold Bug Index) . Apparently, the Russian Federation having now 20,000 troops on the Ukraine Border are about to be employed by President Putin to prevent Kiev from destroying the Pro-Russian Separatists strongholds in Donetsk & Luhansk, the later being under siege by Kiev to bring about a humanitarian calamity ! Aug 5, 2015 at 11:33 a.m. PDT.
    5 Aug 2014, 02:34 PM Reply Like
  • filipo
    , contributor
    Comments (4662) | Send Message
     
    james,
    Even UN have now realized that some 750,000 people have fled the premises and are refugees in Russia.
    I still was of the idea that all Ukrainians were Kiev Ukrainians. Kiev propaganda must have forgotten those 750,000.
    5 Aug 2014, 03:34 PM Reply Like
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