Ahead Of The Fed Meeting


US investors are buying gold bullion once again. Surprisingly, it is happening ahead of tomorrow’s Fed announcement day. 

Yesterday and today as many as 314.2 thousand ounces of gold were added to GLD vaults:
 

 Another gold bullion vehicle, iShares Gold Trust (IAU) added 9.6 thousand ounces of gold.

Interestingly, today the share prices of precious metals mining companies went down strongly:

  • GDX lost 3%
  • GDXJ lost 6%
  • It looks like the precious metals stock market is mini-crashing but American investors are accumulating physical gold. Who is right? Let us wait until tomorrow…

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