Friday, January 2, 2009

Gold Trust Holdings are Indicative of Gold Pricing...

On December 30th, 2008, SPDR Gold Trust (GLD) announced that its holdings have risen to a new record.

SPDR Gold Trust is the world’s largest gold-backed, exchange-traded fund. The trust issues securities that are backed by physical gold. The trust’s physical holdings rose a staggering 5 tons on December 29th to an all-time record high. The rise, which indicates a three percent gain (22.1 tons) for the month of December, rose from 775.33 tons on December 26th to 780.23 tons in total holdings.

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