Seeking Alpha

The SPDR Gold Trust (GLD) recorded $897M in outflows yesterday, the largest decline since August...

The SPDR Gold Trust (GLD) recorded $897M in outflows yesterday, the largest decline since August 2011. Commerzbank wants to see more days of outflows, but says it's surely a negative if even ETF investors are caught up "in the selling pull." More: Central GoldTrust (CTU) now trades at a discount to NAV vs. an average 3.4% premium over the past year.
Comments (18)
  • You can imagine how it will be like such a large ETF selling into the physical market.
    23 May 2012, 10:16 AM Reply Like
  • I think its the paper market vs the Physical market....
    23 May 2012, 10:23 AM Reply Like
  • There will be plenty of central banks happy to take their bullion.
    23 May 2012, 10:29 AM Reply Like
  • I think "happy" will not take part in this event.
    23 May 2012, 10:33 AM Reply Like
  • I suggest you google "puke indicator" before drawing the wrong conclusions.
    23 May 2012, 10:34 AM Reply Like
  • Will this be the great puking that the old books talked about?
    23 May 2012, 10:40 AM Reply Like
  • The "puke indicator" is triggered when GLD registers a large outflow. Every time this has happened, within days a long-term cycle bottom in gold has formed.

     

    http://bit.ly/L7DZbH
    23 May 2012, 10:42 AM Reply Like
  • I'd be very careful with predicting long term bottoms here, unless uncle Ben comes to the rescue.
    23 May 2012, 10:49 AM Reply Like
  • I'm 99% confident. The data does not lie.
    I agree we may go a bit lower in the short term (weeks), but a year from now I think gold will be above $1800.
    23 May 2012, 10:51 AM Reply Like
  • What old books? Ancient Astrological Texts that predict the ruins of the Empire?
    23 May 2012, 10:42 AM Reply Like
  • The gold bubble is going to bust. Since the all time high from August 2011, we are making lower lows and lower highs...This market is also not liquid and don't be surprised to see a negative 5%-7% day move soon....
    23 May 2012, 10:59 AM Reply Like
  • Is not today the day that most gold bugs should have bought gold? It fails as a safe haven again. This seems to be the common theme lately.
    23 May 2012, 11:32 AM Reply Like
  • Gold is a long term play to be accumulated over time whether it be GLD or the physical. Leap options are useful for shorter term (2 years) profit opportunities.
    23 May 2012, 12:04 PM Reply Like
  • And yet we remain on the brink of huge currency issues, it's amazing how cheap gold is, given all that's going on. This selling is probably the broke banks raising capital in Europe.
    23 May 2012, 12:31 PM Reply Like
  • China will soak up every drop below $1500. As for the "bubble" bursting, we have years of fun ahead before that can even be contemplated.
    23 May 2012, 05:24 PM Reply Like
  • All that is gold does not glitter
    Not all those who wander are lost
    The old that is strong does not wither
    Deep roots are not reached by the frost.
    24 May 2012, 03:09 AM Reply Like
  • China WILL buy it....all of it..
    24 May 2012, 08:30 AM Reply Like
  • This represents the weak hands bailing out. It is needed for gold to move higher from here. We posted on gold's next leg up a couple of days ago at http://wp.me/p2esYO-61
    24 May 2012, 11:05 AM Reply Like
DJIA (DIA) S&P 500 (SPY)