Looks like the media is telling us that the GLD trust physical gold holdings are rising and giving a boost to the precious metals prices.
I don’t believe it until I see it.
When I make the chart, I see that we are bottoming out (red chart), but by no means we are really seeing a pick up in GLD trust physical gold holdings yet. We will have to wait for a longer time frame to confirm this uptrend.
I need to admit that the red chart is bottoming out though. Maybe the selling of the GLD trust units has exhausted itself.
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| Chart 1: GLD Trust |
As for silver, we really start to see an uptrend here:
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| Chart 2: SLV Trust |
Conclusion:
Silver is the most undervalued of the two precious metals.
Correlation Economics (Backup) 