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Gold Trust Adds a Little Gold

IMG Auteur
Tim Iacono
The Mess that Greenspan Made
Published : August 13th, 2010
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FOLLOW : Gold Greenspan Market
Disclaimer
Category : Opinions and Analysis

 

 

 

 

It’s not much, but it’s a start. After net redemptions of almost 40 tonnes from July 1st up until about two weeks ago, the popular SPDR Gold Shares ETF (NYSE:GLD) has been adding gold bars to the trust in recent days, a total of five tonnes since last Wednesday.

 

 

Some people might be wondering whether they missed a buying opportunity in late-July; that is, when the metal dipped to $1,160 an ounce. Time will tell, but gold price corrections sure aren’t what they used to be. For years, a 15 percent correction from a new high was a reliable buy signal, but we haven’t had a move down of that magnitude in almost two years.

 

Tim Iacono

 

Iacono Research.com

 

Tim Iacono is the founder of Iacono Research which provides market commentary and investment advisory services specializing in macroeconomic analysis and commodity based investing. He also writes the popular blog The Mess That Greenspan Made.

 

 

 

 

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Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
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