Gold Coin Sales Are In A Terrible Slump (GLD)
From Tyler Durden: The first nine months of 2017 have seen demand for gold coins slump. As stocks soar unendingly (and volatility drops unerringly) the US Mint notes that sales of coins is at its weakest in a decade as complacency in the face of ever-increasing potential-crisis-events nears record highs.
The question is – what happened the last time the public gave up on buying “protection against the idiocy of the political cycle”?
The answer is awkwardly simple… everything collapsed.
And as a reminder, China’s Golden Week Holiday ends this weekend and that has traditionally meant only one thing for gold…
So what happens next?
The SPDR Gold Trust ETF (GLD) closed at $121.09 on Friday, up $0.57 (+0.47%). Year-to-date, GLD has gained 10.47%, versus a 14.85% rise in the benchmark S&P 500 index during the same period.
GLD currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #6 of 36 ETFs in the Precious Metals ETFs category.
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