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Dibs, all American gold ETFs are backed by physical gold (GLD being the biggest) – that’s the appeal. There are some British ones which backing “are left to the discretion of managers”. But that is a tiny percentage of the pie.
M4L, you are so Chinese! 🙂 Leche, please note the emotional attachment to gold. ( i.e.Donatella, but one cant go shine, kiss, etc the ETF’s but can with the bars)
Donatella – Or to be more precise, but sell gold short what I mean is take some financial position where I benefit from a decrease in the price of gold. There are probably lots of ways to do that. Short GLD shares would be one.
benson, you really think that will work given the mindset today towards the government??? You think the Tea party is growing now??? If the government came out and said that today there’d be an overthrow.
Commodities are not my game, but I’ll just remind everyone of one fact. If indeed the bottom falls out on the US and world economy, the US government is likely to do what it did during the Great Depression: forbid the private possession of gold.
Leche, I am talking about selling gold short, i.e. selling gold in the futures market. Not sure to what kind of “shorting gold” you are referring. (selling your Shares in GLD?). You can go broke “being right” and being ahead of the game.
Dibs, all American gold ETFs are backed by physical gold (GLD being the biggest) – that’s the appeal. There are some British ones which backing “are left to the discretion of managers”. But that is a tiny percentage of the pie.
M4L, you are so Chinese! 🙂 Leche, please note the emotional attachment to gold. ( i.e.Donatella, but one cant go shine, kiss, etc the ETF’s but can with the bars)
Donatella – Or to be more precise, but sell gold short what I mean is take some financial position where I benefit from a decrease in the price of gold. There are probably lots of ways to do that. Short GLD shares would be one.
benson, you really think that will work given the mindset today towards the government??? You think the Tea party is growing now??? If the government came out and said that today there’d be an overthrow.
By donatella on June 9, 2010 11:05 AM
ETFs are backed by physical gold.
ROTFLMMFAO. I have a bridge to sell you, donatella.
Commodities are not my game, but I’ll just remind everyone of one fact. If indeed the bottom falls out on the US and world economy, the US government is likely to do what it did during the Great Depression: forbid the private possession of gold.
Donatella, but one cant go shine, kiss, etc the ETF’s but can with the bars
“You can go broke “being right” and being ahead of the game.”
Agree 100% – that’s the Keynes quote in different words.
Selling short I mean selling short GLD shares or some equivalent security (I don’t have the means to sell physical gold short).
I don’t own any gold so I can’t sell gold unless I sell it short.
ETFs are backed by physical gold.
Leche, I am talking about selling gold short, i.e. selling gold in the futures market. Not sure to what kind of “shorting gold” you are referring. (selling your Shares in GLD?). You can go broke “being right” and being ahead of the game.