Yes he’s obviously pro-gold in his outlook, but Lawrence Williams* isn’t one of the permabull rose-tint-specs people either. His piece today entitled “Big purchases into gold ETFs suggest beginnings of change in sentiment” makes a valid point about the signals of a tidal change in attitudes towards bullion ownership in the USA (like it or not, it’s still the world’s most important market and sets the tone for so many other places) and here’s an extract:
“Yesterday saw purchases of 4.166 tonnes
into the SPDR gold ETF and a relatively massive purchase of 3.87 tonnes
into the Gold Trust. The holdings of the SPDR gold ETF are now at
645.131 tonnes and at 156.42 tonnes in the Gold Trust. These two
purchases confirm a change in attitude towards gold by U.S. investors.”
Worthy reading material for this Friday. Click this link and read it all.
*Or Lawrie to his friends and as I have no friends, Lawrence.