The Mess That Greenspan Made: Buy low, watch the price go higher

Buy low, watch the price go higher

Tuesday, February 26, 2008

The statistics for the streetTRACKS Gold Shares ETF (NYSE:GLD) indicate an additional eight tonnes were added to the trust yesterday. Is this important in any way?
On the eleven previous occasions since last August when eight tonnes or more were added to the trust, the price of gold was, on average, $71 higher just 30 days later.

They seem to have a knack for buying low and then watching the price go higher.

Full Disclosure: Long GLD at time of writing.

4 comments:

Anonymous said...: Very significant to note that with the current run gold and silver advance in value while everything else that isn't cash-like declines or is flat. It's Exter's inverted pyramid theory at work.; February 26, 2008 9:16 AM
Anonymous said...: Bu$hCo has approved the sale of 12.9 million oz of IMF gold reserves to set up a long-term IMF funding endowment. Gold went up anyway, at least today.; February 26, 2008 1:14 PM
Anonymous said...: It won't matter what BushCo or anyone does regarding gold. The psychology has turned. Remember that in reality paper currency is a gold derivative.; February 26, 2008 2:06 PM
Anonymous said...: I found this surprising. China is number one in gold production.

http://www.forbes.com/2008/02/25/china-economy-gdp-biz-cx_bw_0226china_slide_7.html?thisSpeed=20000; February 26, 2008 2:57 PM

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