Silver Market Morning: Dec-21-2015
Snippet:
On Friday a buyer bought 18.749 tonnes worth of shares into the SPDR gold ETF. This cost around $633 million. We haven’t seen such a sizeable purchase for over 4 years! This was responsible for the rise in the gold price on Friday and we expect more follow through in New York as this is factored in. If there is more buying into this fund or from other quarters of the market it will tell us that major investors views, in the U.S. are changing to the positive. The holdings of the SPDR gold ETF are now at 648.915 tonnes and at 155.87 tonnes in the Gold Trust. COMEX remains massively short.
Gold Today –The New York gold price closed Friday at $1,065.90 up $15.20 from $1,050.70 on Thursday’s close. In Asia, prices rose to $1,072.50 with London holding it at the same level and with the dollar index falling slightly to 98.70 down
Monday, December 21st
First published here: Silver Market Morning: Dec-21-2015
