MisterPhi

Gold Bugs vs. Gold Haters

Couple of interesting things on gold.
1) Why is it that the mgmt company stopped issuing updates on the holding in the GLD @ the market top?
2) After the scale of the liquidation we've witnessed in the fund, I personally find it "interesting" that holdings have actually *increased* to a fresh 1'029t. Ahem?
3) The fine print on the GLD prospectus does nothing to allay any fears, I'm afraid.

So at the end of the day, there's really nothing that beats owning the real stuff. Which means taking delivery of real physical vs. buying the "virtualized" ETF version.

U.S. Mint Actions Discourage Gold Ownership

Just returning from a rapid visit to a small branch of Raiffeisenbank here in Switzerland. Gold demand still continues at very high rates, to the point that the bank's HQ has now decided to allow the sale of small bars that carry only the assayer's brand and not the bank's seal, in order to reduce turnaround time.
We find it particularly interesting to note that the price of gold has severely decorrelated from USD weakness during this past week. This might be *the* trigger that will cause the second gold rally - not in dollar terms, this time, but in other currency bases.
StudioPhi,
Mendrisio,
Switzerland