Gold ETF Ownership Still Below March 2020 Low

Gold ETF ownership is still below the March 2020 low.

SPDR Gold Trust (GLD) has 309.2 million shares outstanding up from a low of 282.9 million shares outstanding on March 12th.

A 9.3% increase in GLD shares outstanding since March 12th has helped contribute to a 25.5% increase in the price of gold.

GLD needs to see its shares outstanding increase by another 41.59% to return to the September 2020 high of 437.8 million.

If a deal is announced before the end of this month to acquire Augusta Gold (TSX: G) it would most likely be for $3 per share in cash. Our hope is they let the stock run up to $3 per share on its own first and sell it to AngloGold Ashanti (AU) in December for $5 per share in cash.

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA's President has purchased 224,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.