GLD Assets Spike Higher

A late-August surge in gold prices has finally attracted traders back into SPDR Gold Shares (GLD), the largest of the gold bullion ETNs. This week’s chart looks at total assets held in the GLD Trust, which issues or redeems shares as needed in order to keep the share price as close as possible to the net asset value. Those shares are backed by actual gold bullion, and so issuing more shares means more gold in their vaults. Data are available
A number of assets held by GLD tend to fluctuate in step with gold prices.

This post was published at FinancialSense on 08/31/2017.