Quick note: large holders of GLD can request delivery of physical gold (100,000 shares minimum or almost $14 million) and there is evidence they have been doing so and almost all of the physical gold they store is gone leaving only receipts for gold they have leased out. The short squeeze in gold is happening. It's time to get out of GLD and into physical gold or other assets.
Also regarding the price action in gold lately, if the bull market in gold follows elliot wave pattern, I'd expect there to be another big leg down to nearly $1000 before the final bubble occurs.
On the bright side, this dip in the price of gold gives you a chance to sell your GLD and buy physical and pay less tax than if you made that exchange at a higher price.
