From Chuck Butler at Everbank
OK... Here's the BIG NEWS! Recall yesterday, I told you that the negative TICs data probably was a result of the tumultuous August, but... I thought that in a normal month the net foreign security purchases would have shown a weakening... Well... Yesterday, it was reported that Japan, China and Taiwan sold U.S. Treasuries at the fastest pace in at least five years in August.
Japan cut its holdings by 4% to $586 Billion, China cut its holdings 2.2% to $400 Billion, and Taiwan's holdings slid 8.9% to $52 Billion... Japan's selling was at the fastest pace since 2000, China's since 2002, and Taiwan's since 2000...
Should be good for gold