Gold Sentiment Updated

GLD Outflows have occurred for a record 41 consecutive days and as you can see, have surpassed 2008 levels.


The MarketWatch Blog, The Tell quotes Barclays in saying that Gold ETP flows are now the weakest on record.

Barclays also notes that net fund length in Gold is at its lowest since December 2008 and gross short positions are at their highest since July 1999.

Quoting MarketWatch:

In a report issued Friday, EPFR Global said investors pulled $4.23 billion out of sector funds in the final week of February — and of that, over 95% came from gold and precious-metals funds. “Although the biggest chunk of those outflows came from a single gold ETF, well over half of the gold funds tracked by EPFR Global failed to take in fresh money,” it said.

According to BullionVault, spec shorts are now at their highest levels since 1999!


Next, let’s take a look at the GLD put-call from Schaeffers Research. Days ago it hit a 2-year high (minimum) though GLD has yet to close at a new low.