half of 4.23billion is 2.12billion, at 1600 this represents 1,325,000oz, or 41tons.
As I have mentioned in my "GLD Puke" posts, GLD happens to have lost a total of 50tons in the last two weeks.
Obviously, they are treating GLD redemptions as though investors are selling out of gold. Quite the opposite, again as I have explained in my "puke" posts, what really happened is that tons of gold have been taken away from the market place represented by GLD units and gone into hiding/hoarding, a sign of big money patiently scooping up real gold on the cheap gifted by paper gold traders and punters merely betting on the direction of gold's next price move.
I tell you my friends, when gold's real move comes, the profit or loss we are currently seeing in the gold market does not really matter much.
