This summer's waning gold investment won't last indefinitely as traders largely assume. Just like speculators' gold-futures selling, there are limits to gold investment selling.
The best proxy for gold investment demand, GLD's holdings, has already fallen to levels that have proven strong buying support throughout this entire gold bull. Below 800 tonnes selling fizzles.
With both likely speculation and investment selling looking mostly tapped out for this summer, odds are gold's major seasonal autumn rally will get underway any day now.
Gold's summer doldrums are dragging on this year, with this asset slumping longer and lower than usual. Several converging factors are responsible. The stronger dollar has convinced gold-futures speculators to sell aggressively, and gold's downside