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CNBC Visits The SPDR Gold Shares’ GLD ETF Controversial Vault

Commodities / Gold and Silver 2011 Sep 01, 2011 - 01:44 AM GMT

By: Submissions

Commodities

David Bettencourt writes: CNBC’s Bob Pisani brings in the CNBC cameras for a look inside the gold vault of the SPDR Gold Trust (NYSE:GLD). GLD is the largest exchange traded fund (ETF) in the world, backed by gold in a secret location in London. This is the largest private gold reserve in the world with more than 1,200 metric tons. The reserve is valued at more than $70 billion. Almost no one outside the World Gold Council has ever seen all the gold…until now.


Conspiracy theorists often maintain GLD is a total fraud that doesn’t actually own any physical gold, hopefully this will put those concerns to rest. Undoubtedly there will still be those that will be unwavered by the video claiming that even though the video shows lots of gold, there is no proof that all that gold is there. Even if Bob were to count all of the gold, theorists will still claim that the bars were not solid gold.

I guess the conspiracy theories will need to be tackled one theory at a time.

See the inside of this mysterious vault in the video below:

Related ETFs: SPDR Gold ETF (NYSE:GLD), Market Vectors Gold Miners ETF (NYSE:GDX), PowerShares DB Gold Double Short ETN (NYSE:DZZ), iShares COMEX Gold Trust (NYSE:IAU), iShares Silver ETF (NYSE:SLV).

David Bettencourt

ETF DAILY NEWS

www.etfdailynews.com

Copyright © 2011 David Bettencourt - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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