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Sam Maher
Membre depuis octobre 2016
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Gold Bullion's Rally Fails to Grow GLD Yet Again as UK Supreme Court Confirms Article 50 Ruling on Brexit - Bullion Vault -

"The GLD has now shrunk by almost one-fifth after swelling to a 3-year record immediately after the UK's Brexit referendum result in June 2016."

I keep seeing you reference GLD's holdings data but I still have yet to see any substantial evidence to support this data. 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 :GOLD BULLION retreated from new 2-month highs against the Dollar in London trade Tuesday as the UK Supreme Court confirmed that the British Parliament must vote on the Article 50 trigger for starting Brexit. Western stock markets rose with commodity prices, and silver bullion prices held little changed at $17.13 per ounce. The Pound whipped 1 cent versus the Dollar on the UKSC's jud... Lire la suite

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