GLD is now the world’s second largest ETF (exchange traded fund) with 1,308 tonnes of gold worth $51bn (SPY is the biggest one with $83bn). Governments finally realize that too much debt leads to default. Now they try to tighten the fiscal belt. All that it left to avoid financial disaster is “quantitative easing” (= printing of money, or purchasing of government bonds by Central Banks). This will further undermine the value of fiat currencies and help the price of gold.