by Dan Norcini
For the first time since early October 2013, reported holdings in GLD have topped the 900 ton mark. This is not something to be taken lightly as it shows tremendously strong Western-based investment demand for the yellow metal. That is the kind of demand that fuels bull moves.
The last time there were over 900 tons of gold in GLD, the price of gold was near $1320. Currently, in the Asian trading session, gold has taken out the $1300 level and is last trading at $1302. As you can see, currently gold is about $18 lower than that level.