Sunday, June 23, 2013

Redemptions in the GLD are, oddly enough, Bullish for Gold

I agree with Sprott that the smashing of paper gold prices (including the naked short selling of the GLD ETF) has corresponded with the intensifying demand of physical gold.  But I would add to his conclusion of:
To us, this is clearly a bullish signal for gold.
my corollary:

This will accelerate the transfer of wealth from the West to the East, and the impending bankruptcy of Western economies.,-oddly-enough,-bullish-for-gold/

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