IAU Still Adding Fresh Gold

Independent analyst • Sep 27, 2017 at 5:47 AM EDT

Today, IAU added the second highest amount of gold this year (74 thousand ounces). Note that today we saw big drops in gold/silver prices (0.75% and 1.54%, respectively) but...IAU investors do not care and are adding gold.

I have not seen this before - iShares Gold Trust (IAU) is accumulating gold as if something big was to happen. For example, today this trust added the second highest amount of gold this year (74 thousand ounces). Note that today we saw big drops in gold / silver prices (0.75% and 1.54%, respectively) but... IAU investors do not care and are adding gold:

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What is more, GLD has reached its strong support at around 123.0 (the yellow area on the chart below):

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source: Stockcharts.com

Disclaimer:

This article is not an investment advice. I am not a registered investment advisor. Under no circumstances should any content from here be used or interpreted as a recommendation for any investment or trading approach to the markets. Trading and investing can be hazardous to your wealth. Any investment decisions must in all cases be made by the reader or by his or her registered investment advisor. This is strictly for educational purposes only.