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According to the SPDR GLD electronic traded fund (ETF), retail investors poured in another $900 million this week into the Gold ETF, on top of last weeks inflows of $3.3 billion. The 4 week inflows stand at almost $6.5 billion, which is 11.3% of the fund. This is the largest monthly inflow since May 2010. Comparing that to the start of July, where GLD ETF held $57.47 billion in assets, we can see that retail investors continue to pile in.
On top of that, Hulbert Gold Sentiment Index stands at 67% bullish exposure and is starting to approach the extreme levels of 70% we saw earlier in May, when Gold dropped from $1577 to $1462 in a matter of days. On top of that, Gold speculators tracked by Commitment of Traders report, showed that contracts increased from 157,775 three weeks ago, to 219,297. That is almost a 40% increase and the highest level since December 2010, when Gold topped at $1432.
One positive aspect Gold has behind the current rally is that seasonality tends to be very positive during August and September. Both months tend to be positive at least 80% of the time since 1980s, with September positive 97% of the time.
Finally, for those who haven’t read it already, I looked at the current bull market in Gold last week, coming to the conclusion that after 11 straight annual gains, a correction should be in the cards sooner rather than later. Obviously, this correction should represent a great buying opportunity.
Since Before Its News really must be having a problem getting vital information out and is unable to live up to its objective (for whatever reason, political?), here’s the latest and greatest on the wonderful activities of NATO in Libya. They are destroying the water supply system and the factories that support the system. All thanks to F UK USA.
RAPE of LIBYA : GREAT MAN MADE RIVER reason for NATO attack
Libya S.O.S.
Since Before Its News really must be having a problem getting vital information out and is unable to live up to its objective (for whatever reason, political?), here’s the latest and greatest on the wonderful activities of NATO in Libya. They are destroying the water supply system and the factories that support the system. All thanks to F UK USA.
RAPE of LIBYA : GREAT MAN MADE RIVER reason for NATO attack
Libya S.O.S.
http://uruknet.com/?p=m79872&hd=&size=1&l=e