Royal Bank of Canada loads up on GLD

GLD is the most popular gold ETF. While gold itself is taking a beating, RBC (ticker RY), or its clients, has been adding GLD is massive amounts.

At the end of June Royal Bank of Canada reported holdings of 1,142,143 shares with a market value of $166,752,878. At the time, this was about 0.16% of the total portfolio.

On 09/30/2011, Royal Bank of Canada reported holding 3,138,217 shares, with a market value of $496,026,571. This comprised 0.63% of the total portfolio. 

On Sep 30 GLD was trading at $158.08. Today, after a massive selloff it trades at $152.35.