For those of you following the gold market, I just read that there was an outflow of 20 tonnes of metal from the GLD etf yesterday, which means that the mythical “GLD puke indicator” just signalled a bottom. Like I noted about a week or so back (bloggin from Pad w/o archive monkey on duty so I cant check exactly which day right now) we likely have a major bottom in sight. Everyone is pretty much calling an end to the bull market. The GLD outflow serves as a secondary indicator that maybe the 1530-zone wont be breached. If so, then its time to buckle up.
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Peter Schiff on the “Gold Pullback.”
I thought this might be of some interest to you.
Peter Schiff usually has a good answer