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Looking at who was behind the massive GLD redemptions early this year, Commerzbank concludes the...

Looking at who was behind the massive GLD redemptions early this year, Commerzbank concludes the selling might be about done. Estimating quick-moving hedge funds accounted for about 10% of GLD holdings, Commerzbank reckons they've pared down positions to the point where, if anything, they're buyers at this level.
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Comments (9)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    They wish they would have bought in Cyprus....that is what gold and silver are all about...
    21 Mar 2013, 03:17 PM Reply Like
  • filipo
    , contributor
    Comments (3663) | Send Message
     
    Cyprus' gold reserves are at 13.9 Tonnes.
    21 Mar 2013, 03:28 PM Reply Like
  • Denny_Chasteen
    , contributor
    Comments (700) | Send Message
     
    Hahaha. Were at 13.9T. Russia will claim whatever they now have left. Will make everyone, especially UK, China and Germany want even more.
    21 Mar 2013, 04:12 PM Reply Like
  • fayrweather
    , contributor
    Comments (73) | Send Message
     
    Interesting, good point. I bet the demand across Europe is about to increase. I'll have to pick up some GLD tomorrow.
    21 Mar 2013, 05:56 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    FAY

     

    No, you pick up physical..GLD has many issues discussed here a lot..

     

    "The two ETF's that I follow are the GLD and SLV. You must be very careful in trading these vehicles as these funds do not have any beneficial gold or silver behind them. They probably have only paper claims and when the dust settles, on a collapse, there will be countless class action lawsuits trying to recover your lost investment.
    There is now evidence that the GLD and SLV are paper settling on the comex."

     

    Do some homework before you buy it!
    21 Mar 2013, 09:52 PM Reply Like
  • filipo
    , contributor
    Comments (3663) | Send Message
     
    Gee, the situation gets more interesting by the minute: Turkey has declared not to agree with an evantual "sale" of Cyprus's gas reserves (to the Russians) because it is Turkey 's beleif these gas reserves belong to them.
    Cyprus has promised Russia a marine basis in return for a bailout. Would the US like that ?
    http://on.mktw.net/15x...
    21 Mar 2013, 06:00 PM Reply Like
  • ChappyDave
    , contributor
    Comments (23) | Send Message
     
    Let me get this straight. Is GLD acting like an OPEN-END mutual fund, with people redeeming shares in bullion? Who bears the cost of this turnover?
    21 Mar 2013, 10:27 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    Chappy

     

    Read the prospectus of GLD and SLV and see how they pay their fees? If they are insured? Who is the custodian?

     

    Then think about Sprotts ETF'S...Others have done this and stayed away from GLD and SLV... PSLV for silver is a much better play if you are trading..Investing then imo physical..
    21 Mar 2013, 10:48 PM Reply Like
  • Terry330
    , contributor
    Comments (867) | Send Message
     
    Gold Miners have turned up. GDX

     

    http://bit.ly/Yvb0lJ
    21 Mar 2013, 10:41 PM Reply Like
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