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While there are several gold exchange-traded products [cnbc explains] available, the SPDR Gold Trust The second-largest gold ETF, the iShares Comex Gold Trust I get the most questions about the GLD, so I will confine myself to that product. ...
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I get the most questions about the GLD, so I will confine myself to that product. Here are the answers to frequently asked questions.
[BK: NYSE Loading... () ] Asset Servicing (a division of Bank of New York) that is responsible for the day-to-day administration of the trust. The trustee establishes the daily Net Asset Value (NAV) for each share. The NAV is the value of the assets, less the liabilities, on a per-share basis.
You own a fractional, undivided beneficial ownership interest in a trust, the sole assets of which are gold bullion and, from time to time, cash. You are a shareholder, but the prospectus clearly states you have no right to elect directors or receive dividends.
"If you don't have it in my hand, it's not worth it," I've heard some say. If you feel that way, these type of gold investments are not for you. You are better off owning bullion directly or through some other medium that allows you to exchange shares directly for gold.
The stated investment objective of the gold trust is for the shares to reflect the performance of the price of gold bullion, less the trust's expenses.