Saturday, August 24, 2013

Global Gold Demand, And Why It's About to Change

Courtesy of Reuters ...

Why this is so important: First, India and China should EACH buy 1,000 tonnes of gold this year. Second, exchange-traded-product selling of gold was a major bearish force in the markets through July. But more recently, the SPDR Gold Trust GLD saw its gold holdings rise on Wednesday for the first time since late May.

In other words, the selling pressure that has kept its boot on the neck of gold prices for months may finally be about to lift.

One data point is not a trend. But this may mark the beginning of the bottom in gold. Be careful -- you're in charge of your own investing destiny.

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