Take physic, pomp

GLD inventories continue to drop

The number is 1,048.28mt today, back to where bullion inventories stood in April 2020.


    Meaningless! Redemptions in SLV and the other you mention are done only by an authorised participant that is short the metal, and needs to deliver!


      Meaningless! My word, you have made up your mind, haven’t you?


        What other explanation, is there? The WGC etc love to call the GLD & SLV physically backed when they are not. Jeff Currie also claimed these ETFs are the big short in the futures market. Only authorized participants can redeem shares, ie sell shares in exchange for metal. Long only investors with the above knowledge would be investing in PHYS, PSLV or CEF where they can redeem shares for metal. Physically backed means all shareholders have the ability to redeem shares.


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