by Dan Norcini
Trader Dan
The continued build in the number of reported gold holdings in the large gold ETF, GLD, is nothing short of phenomenal. This week alone, another 22 tons of gold have been added to the ETF bringing the total in storage to 788.6 tons.
Here is a chart showing the sharp increase in holdings.
[…] This is the largest amount of gold in GLD since September 2014.
I have been watching very closely that continued build in speculative long positions over at the CME against the growing short position among the Commercials and Swap Dealers and have been growing increasingly concerned about that imbalance now that gold is moving sideways at its current levels.