I watch GLD pretty closely during some days. It follows spot gold +/- only a few cents; sometime a little more but not often. It's price isn't exactly 1/10 oz gold because of their admin costs but that is irrelevant because it does track with the spot price. If you buy coins/bullion you pay a premium. You should get some of that premium back when you sell but not all of it. Plus, if you sell during a downside panic, it is unlikely a dealer will even give you spot. You also have shipping costs and possibly other costs depending on what you are selling and to whom. The only cost to selling your GLD is your brokerage fee which shouldn't be any more than $10/transaction. Take great care in what ETF you decide to buy. There are a few that claim to be more transparent (audited) but have unbelievable premiums - if you are in and out quickly, this is irrelevant but a long term hold could burn you. Hope this helped.