Win us with honest trifles

Wall St. is buying gold (at last)

Tonight’s GLD inventory total of 1,087.66 metric tonnes means that 114mt of gold bullion has been added to GLD coffers since the end of 2021:

At U$1,950/oz, that’s U$7.15Bn of extra inventory in 2022. Not bad for Wall Street’s preferred method of trading the metal, but there’s still a distance between now and where stocks stood at the start of the Biden administration. Still plenty of slack to take up, data from here.

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