Gold Trust Adds a Little Gold

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"It's not much, but it's a start."

It's not much, but it's a start. After net redemptions of almost 40 tons from July 1st up until about two weeks ago, the popular SPDR Gold Shares ETF (NYSE:GLD) has been adding gold bars to the trust in recent days, a total of five tons since last Wednesday.

GLD Creation/Redemption & Gold Price

Some people might be wondering whether they missed a buying opportunity in late-July; that is, when the metal dipped to $1,160 an ounce. Time will tell, but gold price corrections sure aren't what they used to be. For years, a 15% correction from a new high was a reliable buy signal, but we haven't had a move down of that magnitude in almost two years.

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