….By More Than 10% On The Week
Last week we covered the rapidly declining COMEX gold inventories and found that registered gold hit a new low even as eligible gold inventories rose for the first time in a number of weeks. This week COMEX data shows that registered inventories plunged and eligible gold rose modestly.
This is something that should be very relevant to investors who own physical gold and the gold ETFs (GLD, PHYS, GDX, and CEF) because any abnormal inventory declines may signify extraordinary events behind the scenes that would ultimately affect the gold price.
“This is extremely bullish for investors in physical gold and the gold ETFs (GLD, CEF, and PHYS).”
….read why this is bullish Gold Investors HERE