The SPDR Gold Shares [[GLD]] is an ETF created to closely match the gold bullion price. The ETF is set up as a trust holding 25,085,095 ounces of gold bullion.
“Gold – it is unlike all other elements on earth. Virtually indestructible, this precious metal has been the source of countless fables and has mobilized the growth of nations and financial infrastructures worldwide. Human beings have been utilizing gold as both a form of currency and an investment for thousands of years.”
“As an asset class, gold is unique. Durable and highly liquid, the economic forces that determine the price of gold are different from the economic forces that determine the price of many other asset classes such as equities, bonds or real estate. A potential safe haven from the uncertainty of economic events, political unrest and high inflation, gold offers investors an attractive opportunity to diversify their portfolios – potentially reducing overall portfolio risk and ultimately preserving portfolio wealth,” as said on the website for Gold Shares.
“SPDR Gold Shares offer investors an innovative, relatively cost efficient and secure way to access the gold market. Originally listed on the New York Stock Exchange in November of 2004, and traded on NYSE Arca since December 13, 2007, SPDR Gold Shares has been one of the fastest growing ETFs in the US.”