With continued consolidation in the gold and silver markets, a tidal wave of money is flowing into the Gold ETF and gold stocks.
From Jason Goepfert at SentimenTrader: “The biggest fund inflow over the past week was in the gold fund, ETF. It took in more than $1.6 billion, which is among its highest in the past five years (see spike on far right hand side of the chart below).
This hasn’t been a perfect contrary indicator, but extreme fund flows in the funds have been more of a contrary guide than not, suggesting a headwind for the metal from here.
King World News note: We also continue to see strong money flows into the GDX Gold Miners fund (see chart below).
King World News note: But we are seeing extremely strong money flows into the GDXJ Gold Miners fund (see chart below).
King World News note: It will be very interesting to see how gold and gold stocks trading in the coming days in weeks in light of the massive surge in demand.
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