Not to mention the prospectus' line on expenses. "The Sponsor expects that, for many investors, costs associated with buying and selling the Shares in the secondary market and the payment of the Trust’s ongoing expenses will be lower than the costs associated with buying and selling gold bullion and storing and insuring gold bullion in a traditional allocated gold bullion account."
Deceptive advertising from the people behind GLD. SPDR GLD has no comparison to "insuring gold bullion" when GLD itself has no definitive insurance.
That's right. There's quite a bit of deceptive advertising nowadays and GLD is no different. It seems State Street has gotten themselves into quite of bit of lawsuits trying this on pension funds. Didn't get them into hot water with GLD yet though.