Read ‘SPDR (‘GLD’) ETF v. Physical Gold’ e-mailed today to the over 10,000 opt-in (for e-mail) Subscribers to StockResearchPortal.com, a Resource Stock Research website.  In part, the e-mail reads:

“ I consider an article yesterday titled ‘The Seven Sins of GLD‘ written by Jeff Neilson to be a ‘must-read’ for anyone owning, or considering owning, SPDR (NYSE symbol GLD) Gold Shares as a proxy for physical gold, as contrasted to owning the physical metal or bullion coins directly.  If you take the time to read the article – reading time 10 minutes – I recommend you then ‘think for yourself carefully’ and form your own views and make your own decision as to whether ‘GLD’ or for that matter any other gold or silver ETF is ‘right for you’.

The article addresses seven concerns that Mr. Neilson has with respect to GLD, each discussed in detail under the headings:  (1) Lack of Transparency, (2) Damages, (3) Structure, (4) Fees, (5) ‘D-Day’ (apparently the sunset on guaranteed GLD fees is November 11, 2011), (6) Quality, and (7) Custodian.  I commented on the article as follows:

Hello Jeff: Again, an article well worth reading, and one I am going to briefly summarize and link to tomorrow in my www.stockresearchporta… morning e-mail.

I too have read the GLD prospectus carefully, and in fact have discussed both the trusteeship and gold holdings with the GLD marketing group in New York on at least two occasions. You may be aware there is a periodic independent audit of the physical gold in the Trustee’s vaults, and …….” continue reading

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