Via Bloomberg
Gold stockpiles generally move in tandem with Gold prices, however there is currently a divergence between inventory levels and price. See chart below:
This divergence is likely to become more pronounced as there are ETF's which have to be backed by physical gold reserves There is now a growing picture for gold strength as Gold bulls try to catch up with Gold'd breakout. It was the Federal Reserve's dovish shift which lit the torch under Gold and sent it soaring through the 1350 level. With interest rates set to fall across the world as central banks follow the Fed then Gold once again can become an attractive investment in a low yielding world. See the chart below for potential places to enter longs at support levels. If President Trump and XI fall to reach any agreement at the G20, then Gold's shine will be just that little bit brighter.
