In Gold We Trust Report 2021

In case you want to read the 350 pages of In Gold We Trust, here it is.

This is probably one of the most important charts: silver mine supply.

Gold production in China is down.

In fact, most gold miners have seen lower gold production.

GLD Trust Gold Stock Level Reaches Multiple Year High

We haven't seen these gold stock levels in the GLD trust in years. There were 1159.31 tonnes of gold in GLD on 19-Jun-2020. This looks very bullish for gold.

In Gold We Trust Report May 2020

A new report is out on gold from "In gold we trust".

GLD trust gold inflow?

Looks like the media is telling us that the GLD trust physical gold holdings are rising and giving a boost to the precious metals prices.

I don't believe it until I see it.

When I make the chart, I see that we are bottoming out (red chart), but by no means we are really seeing a pick up in GLD trust physical gold holdings yet. We will have to wait for a longer time frame to confirm this uptrend.

I need to admit that the red chart is bottoming out though. Maybe the selling of the GLD trust units has exhausted itself.

Chart 1: GLD Trust

As for silver, we really start to see an uptrend here:

Chart 2: SLV Trust

Conclusion:
Silver is the most undervalued of the two precious metals.

Silver ETF Vs. Silver Price

As demand is now being dictated for a part by the ETF's, we need to pay attention to what is happening in the trusts.

If you see the hedge funds buying (red chart goes up), you should become bullish.

You can monitor this chart daily at the iShares Silver trust site:
http://us.ishares.com/product_info/fund/downloads/SLV.htm

Chart 1: Silver Ounces in SLV Vs. SLV Price

Correlation: Monitoring the GLD Trust ETF to Predict Gold Prices Based on Demand

As demand is now being dictated for a part by the ETF's, we need to pay attention to what is happening in the trusts. Are they unloading their gold? Because if they keep unloading their gold, the demand from ETF's is going to decline, which has a negative impact on the gold price. This is the theory of supply and demand.

You can monitor this chart daily at the SPDR gold trust site:
http://www.spdrgoldshares.com/usa/historical-data/

Chart 1: GLD Trust: Units in the trust (tonnes)

As I indicated here, ETF's were the largest sellers in gold, resulting in a 13% decline in the demand for gold. I cannot stress how important it is that ETF's keep buying gold. If they don't buy, like what happened starting in 2013, then the price of gold will decline. The great difference between 2013 and 2008 is that in 2008, ETF's were massive buyers of gold, while today they are massive sellers. Keep watching this trend. If it reverses, you can confidently start buying precious metals