Thanks for your reply, the light came on. The etf buys less then a tenth of an ounce of gold for each share of gld. So the price of ten shares of the gld etf should always be less then the spot price of gold because 10 shares of gld represents less then an ounce of gold ownership.....Hope I got this right now...thanks again.
Where did you see 'less than a 10th' in the fund summary? Are there real numbers or are we just making a subjective guess? Does anyone know exactly what a share of GLD represents, and where the gold is stored, and if it can be physically exchanged for shares?