I just noticed something interesting in the gold market. The SPDR Gold Trust, which is the world's largest exchange-traded fund in this sector, lost 18 tons of reserves in a single day in early March. It’s the biggest daily drop since 2013, so it’s definitely not something we see every day.

Right now, it has around 1,081 metric tons in reserves. The curious thing is that this happens while we see interesting movements in other markets. Some traders are rotating capital between different assets, from traditional gold to cryptocurrencies like Toncoin. It seems there’s a search for performance on multiple fronts.

This kind of massive reduction in such an important fund usually signals a significant withdrawal of investors. It could indicate that money is moving elsewhere. Something to keep on your radar if you’re tracking capital flows these days.