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Sam Maher
Membre depuis octobre 2016
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Silver Bullion Falls Harder Than Gold Price 1st Week in 4, 'Big Risk' of More ETF Selling - Bullion Vault -

"The largest bullion-backed ETF, the SPDR Gold Trust (NYSEArca:GLD), yesterday shrank by another 7 tonnes – just less than 1 day's global gold mining output."

I keep seeing you make these claims but I don't know how much I'd trust them. How reliable are GLD's holding reports? GLD does not give retail investors the right to redeem for any of its mystery physical gold holdings. This fact alone ensures the GLD shares to be nothing more than paper at the end of the day. GLD also has a glaring audit loophole in their prospectus that states they have no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this backdoor to the fund. Some other red flags I've stumbled upon, verified and welcome everyone else to verify for themselves:

"Did anyone try calling the GLD hotline at 866▪320▪4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors."

"I remember there was a highly publicized visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities."

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Début de l'article :SILVER BULLION rallied but struggled to hold above $16 per ounce on Friday in London as gold bounced $10 from yesterday's new 40-week lows against the US Dollar. Losing 4.7% from last Friday's finish, silver doubled the weekly loss in gold bullion – its first weekly underperformance in four. "We see an increasing risk of investor selling," says Swiss private bank Julius Baer of gold, silver and ... Lire la suite

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