19 August 2013

Gold Daily and Silver Weekly Charts - Goldman Was Buying Gold While They Were Saying 'Sell?'

Gold and silver had quiet pullbacks today as the markets digested some of their recent gains.

Overall trading is very quiet as many traders are on their summer vacations.

Registered inventory bounced back up a little bit last week, but remains rather thin and indicative of an intermediate trend change.

A reader informs us that:
"For those with a bloomberg terminal, type up the command: {GLD Equity PHDC1 } ... GS bought $5b USD of GLD last quarter, while they were pitching their "sell gold" call to the world."
Note: I think that is $500 Million and not $5 Billion.