They both originally broke out of their however, they both ended up not maintaining their .
The main differences I want to point out between the two is that GLD has not gone above the bottom while
AMEX:IAU also has increasing but GLD has remained somewhat flat on .
This doesn't mean that gold is not being bought but rather understanding how different inflows and outflows can change the performance even though the underlying is the same. see here for a little more details
* Note: Technically IAU is 1/100 the price of gold and GLD is 1/10 the price of gold . However this should not impact the analysis since it's the same as buying 1/100 a chunk of a gold bar or 1/10 a chunk of a gold bar. Both values should remain consistent with their underlying which is 1 bar of gold .
* This information is not a recommendation to buy or sell. It is to be used for educational purposes only.