A Little Gold Trickles Out of the Trust at GLD
Tuesday 6 July 2010 at 8:38 pm
It’s still just a tiny trickle, but, for the third straight day, a little gold bullion exited the trust at the SPDR Gold Shares ETF (NYSE:GLD), a total of 4 tonnes in all as shown below.
Of course, the trust added a total of 190 tonnes in April, May, and June, so, this is not yet cause for alarm for those long the yellow metal. Summer has always been a good time to buy gold, not sell it, though that probably doesn’t factor into the decision making process if you’re some hedge fund that needs to raise cash.