Gold ETF Investors Are Running For The Hills
We just mentioned Goldman's big call to short gold, but we wanted to pluck out this chart, as it's particularly interesting.
It shows a big drop in total holdings of
Goldman Sachs, FT Alphaville
As you can see over the last few years, there have been some bumps along the way, but the amount of gold held by ETFs has grown massively, and there hasn't been a decline of this magnitude.
In fact, going back a bit, you can look at the holdings of just one ETF (GLD) and see that total tons grew massively over the several previous years, even before the bust.
From the GotGoldReport, the red line shows the massive surge in tonnage held starting in 2006.
Bottom line. This looks like the reversal of a major trend that had been part of the gold runup story.
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- A 101-year-old woman keeps getting mistaken for a baby on flights and says it's because American Airlines' booking system can't handle her age
- The Role of AI in Journalism
- 10 incredible Indian destinations for family summer holidays in 2024
- 7 scenic Indian villages perfect for May escapes
- Paneer snacks you can prepare in 30 minutes
- Markets crash: Investors' wealth erodes by ₹2.25 lakh crore