Bullion Coin Market Dynamics
The money is flowing out of the GLD on an up day today as the Wall Street Journal reported healthy selling in the GLD etf. Block trades purchased were $2.34 million and sold were $13.04 million. Total non-block trade money flow was negative $22.67 million.
Reuters is reporting that July saw outflows from all major Gold exchange traded funds. Holdings of the six gold-backed etf funds that Reuters watches fell 3% in July from the previous month.
While this did not make major headlines, it illustrates the weakness in the metals sector. Yes, the dollar did fall to ten [...]