Monday is Chart Day -- Gold ETFs

I picked up a chart over on SeekingAlpha.com that I thought I would share. it shows the rise in the price of gold along with the rise in gold held by various gold ETFs around the world.

We can see a couple of things here. The GLD gold ETF is responsible for the lion's share of the investment gold buying. Also, despite gold's short-term pullback, gold ETF investors didn't dump their gold shares. They seem to be more long-term investors. Finally, the amount of gold held by gold ETFs has flattened out, showing that gold ETF investors are becoming more cautious.

Looking forward, India recently passed laws that should kick-start precious metal mutual funds (and perhaps ETFs, though I don't know enough about Indian law to be sure on that). And I'm really, really wondering what will happen when the US finally gets a uranium ETF. And you know how I feel about uranium.

Check out my new gold and energy blog at MoneyAndMarkets.com