Tuesday, March 11, 2008
Yesterday, another seven tonnes of gold were added to the trust for the streetTRACKS Gold Shares ETF (NYSE:GLD) bringing their stash to a new all-time high of 655 tonnes.
This surpasses the January 15th high-water mark of 653 tonnes as three relatively large purchases were made on each of the last three Mondays - that's how you get that nice, clean stair-step pattern in the chart above to the far right.
That seems odd, but if you go back to earlier in the year, two more big additions were also made on Mondays in January, the lone exception being Wednesday, January 23rd during the Martin Luther King holiday week when markets were closed on Monday.
For all you pensions fund managers out there, note that the World Gold Council has a special new page set up just for you - Gold for U.S. Pension Funds - and if you're a complete newbie (or just wanting a refresher course) there's the new Wikipedia-style Goldipedia.