Bullish Gold And Silver ETF Inflows

On Wednesday, the SPDR Gold Shares ETF (GLD) added to its holdings for the second time in the last four days and, while the amounts are small, this is the first time this has happened since last December.

Also, the iShares Silver ETF (SLV) again added to its holdings this week that are now up an impressive 369 tonnes for the year.

Both of these developments signal that the late-June lows may have marked the bottom for the two-year long correction in precious metals markets, news that can’t come soon enough for gold and silver bulls.

Inflows of 2.1 tonnes on Wednesday following last Friday’s 1.8 tonne addition are relatively small amounts for the world’s most popular gold ETF, however, changes in trend have a big impact on investor psychology.

As shown below, this follows some fairly large outflows in late-July/early-August, so, more net inflows over time will be needed as confirmation of a fundamental change.

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