AI
Friday, February 04, 2005 9:00:28 AM
*** Gold related post (GLD) ***
Hi PH,
If you believe the numbers, (I don't) GLD now claims to have 151.98 metric tons (4.886,270 oz) of gold in their vaults. The new ETF, IAU, claims to be holding an additional 594,914 oz.
Both figures as of yesterday's close.
Did You Notice...?
by Eric J. Fry
With Captain Greenspan at the helm, what's to worry about?
As the seasoned skipper peers into the macro-economic
mists, his vision seems to penetrate well beyond the
visible horizon. He stands astride the poop deck of the
mighty U.S. economy - disdaining both sextants and
telescopes - and seems to navigate by sheer instinct.
So far, the captain's instincts have kept the vessel safe
from the shoals of crisis and the sandbars of recession.
But we are not persuaded that past is prologue. We cannot
shake the fear that the S.S. Greenback may run aground at
any time. We concede that Captain Greenspan has, thus far,
transported his vessel safely. But that does not mean we
expect the voyage to proceed without incident.
Despite the ancient mariner's considerable skills, a few
investors do not seem to trust his ability to guide the
U.S. Greenback to safe passage. They are not certain that
his hefty cargo of dollar-denominated debt will continue to
safely ply the seven seas. Some investors are buying gold -
or GLD, to be precise...the new gold ETF.
Ever since this ETF came to market, demand for this gold
proxy has been steadily increasing. Although the ETF came
to market as a $100 million minnow, it has quickly become a
much bigger fish. As the nearby chart illustrates, GLD now
hold nearly 5 million ounces of gold, worth about $2
billion. Interestingly, the demand has persisted, no matter
the gold price. Even though the price of gold price fell
during December and January, demand for GLD share
increased.
Apparently, somebody wants the stuff.
http://www.dailyreckoning.com/RudeAwake/Articles/RA020305.html
Hi PH,
If you believe the numbers, (I don't) GLD now claims to have 151.98 metric tons (4.886,270 oz) of gold in their vaults. The new ETF, IAU, claims to be holding an additional 594,914 oz.
Both figures as of yesterday's close.
Did You Notice...?
by Eric J. Fry
With Captain Greenspan at the helm, what's to worry about?
As the seasoned skipper peers into the macro-economic
mists, his vision seems to penetrate well beyond the
visible horizon. He stands astride the poop deck of the
mighty U.S. economy - disdaining both sextants and
telescopes - and seems to navigate by sheer instinct.
So far, the captain's instincts have kept the vessel safe
from the shoals of crisis and the sandbars of recession.
But we are not persuaded that past is prologue. We cannot
shake the fear that the S.S. Greenback may run aground at
any time. We concede that Captain Greenspan has, thus far,
transported his vessel safely. But that does not mean we
expect the voyage to proceed without incident.
Despite the ancient mariner's considerable skills, a few
investors do not seem to trust his ability to guide the
U.S. Greenback to safe passage. They are not certain that
his hefty cargo of dollar-denominated debt will continue to
safely ply the seven seas. Some investors are buying gold -
or GLD, to be precise...the new gold ETF.
Ever since this ETF came to market, demand for this gold
proxy has been steadily increasing. Although the ETF came
to market as a $100 million minnow, it has quickly become a
much bigger fish. As the nearby chart illustrates, GLD now
hold nearly 5 million ounces of gold, worth about $2
billion. Interestingly, the demand has persisted, no matter
the gold price. Even though the price of gold price fell
during December and January, demand for GLD share
increased.
Apparently, somebody wants the stuff.
http://www.dailyreckoning.com/RudeAwake/Articles/RA020305.html
Dan 
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