Loading ...Thats pretty interesting. All the Americans that bought GLD contributed USA money to send Gold (financial insurance) to London. I wonder if Brexit, separating London from Europe had something to do with safety of the stored gold.
When they outlawed gold in the USA I read that many Americans shipped their US Gold eagles to Europe to avoid giving it up here. Even during the ’70s PM bull market a big dealer here told me everything they took in from the local people, went to the docks in NYC and shipped overseas. Amusing.
The price action that we’ve seen, and my instinct suggests Gold is going to fly right by $2,000/oz soon. Crazy highs and crazy lows have been common.
Some day GLD might end up like Bitcoin and FTX when all the big depositors try to take out or withdraw their holdings and store it somewhere else.