The real kicker for today however was the massive surge in reported GLD holdings. A whopping 28.8 tons of gold were reportedly added to GLD. I have not gone back to check my database but I suspect this might be very close to a record one day total or if not, a new record in itself. Gold holdings are now at 982.7 tons, the highest level since June 2013.
This is absolutely phenomenal demand.
In my view, this is all traceable to the collapse in interest rates. The yield curve is growing flatter and has broken into yet another new low.