Take physic, pomp

GLD gold holdings, 2016 to date

Reader ‘WR’ send in the link to this piece of Bloomberg stupidity entitled, “Funds Dump Gold at Fastest Pace Since May as Fed View Shifts” in which my favourite quote is…

“Speculation is mounting that Fed officials, in a statement scheduled for
release on Sept. 21, will signal that higher U.S. interest rates are on
the way”
…because you could apply that line to just about every FOMC for the last year and a half. Therefore to buck against our post-truth era and add some facts into the debate, here’s a look at the GLD inventory holdings in 2016 to date to get a better handle on that “gold dump”:
My my, going out of fashion fast aren’t we?

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