Physical ETFs Load Up on Gold and Silver

I have been neglecting this blog, as I have been working quite a lot.

Here is a brief excerpt from a much longer issue I am sending Red-Hot Resource Millionaire subscribers today.

This is an update of the chart I’ve shown you before. It tracks total holdings of the world’s physical gold and silver ETFs. The black line is silver. The blue line is gold.

You can see investors are using ETFs to stock up on gold, even as the paper price goes lower. In fact, it’s gaining momentum. Gold ETFs have added a whopping 24 metric tons so far in June alone! And they’ve added 110 tons so far in 2017.

ETFs started to sell silver last week. But on Friday they changed their minds. Now they’re adding silver, too.

Obviously, someone thinks gold and silver are cheap at recent levels.