SPDR Gold Shares ETF Due for a Surge

MiningFeeds’ Adam Hamilton reported yesterday that the SPDR Gold Shares (ARCA:GLD) exchange-traded fund (ETF) is set to surge after remaining stable thus far this year.

The article concludes:

The bottom line is GLD’s holdings are set to surge again. After plummeting last year in an extreme once-in-a-lifetime orgy of selling, GLD’s holdings have been stable this year. That’s despite the fierce headwinds of the levitating stock markets continuing to howl, and the recent gold sentiment wasteland of the summer doldrums. As these lofty stock markets inevitably sell off, stock traders will return to GLD.

Their necessary GLD-share buying to re-diversify unbalanced stock portfolios will add big marginal gold investment demand. This is on top of the usual fundamentally-driven seasonal strength starting now. And GLD’s holdings remain so anomalously low that a mean reversion to normal levels will require this ETF to buy many hundreds of tonnes of gold bullion. That will work to supercharge gold’s next upleg.

Click here to read the full MiningFeeds report.

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Nexus Gold Corp. (TSXV:NXS) is currently drilling on the Walker Ridge Gold Project in Nevada - a multiple target, Carlin-type gold exploration property. They have recently submitted an expanded Plan to increase the current 8 pad plan to 29 drill pads.

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