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.