carbonates

Need Gold? Check Your Fed Holdings

MellowGuy: thanks for asking - you forced me to look it up and read the prospectus- something I should have done before I bought it!

From the website:
www.spdrgoldshares.com.../


SPDR® Gold Shares
Objective Designed to track the price of gold (net of Trust expenses)
Structure Continuously offered investment trust
Symbol GLD
Exchange New York Stock Exchange Arca
Initial Pricing Based on the price of 1/10th of an ounce of gold
Minimum order 1 share
Short Sale Eligible Yes
Margin Eligible Yes
Estimated Expenses 0.40%*

Obviously, there is no guarantee that each share matches 1/10 ounce of gold. I have already noticed that it does not exactly match that based on spot. It seems to vary by a significant amount from gold spot at times during the day. This is a problem I have noticed with other ETF's based on various commodities (like oil for example).

Gold’s 'Grand' Illusion

Nonsense. Stocks, bonds, and even Miami condominiums would be just as worthless as gold on your hypothetical island. Skill would be the only thing of value in that situation. On the other hand, gold as a store of value has done quite well and in a relatively less catastrophic situation would be more valuable and more liquid than stocks, bonds, Miami condos, or even the US dollar. I'll keep my gold, my guns, and my common sense.