The Merk Gold Trust, which will trade under the symbol “OUNZ,” will hold London “good delivery bars” as well as other gold bars and coins with a minimum purity of 995 parts per 1,000, according to the filing. The ETF’s net asset value will be determined at the end of the London trading day, meaning its price in New York could at times deviate from the end-of-day NAV.
n the any case, it appears the Merk gold ETF will attempt to distinguish itself insofar as the amounts that can be redeemed can be as small as tiny bars of gold and even coins, whereas industry sources say existing gold ETFs require amounts equal to 100,000.
Who absorbs the cost of this retail redemption window?
Like PHYS, you're probably going to drive up the costs for the long term ETF gold investor with taxes and expenses. Better to buy lower cost GLD, if you want gold bars, sell GLD and buy the bars. Easy and cheaper.
hopefully it will kill GLD and SLV, the 2 vehicules used by the banksters to commit fraud and steal from retail investors, all this is done with the consent of the CFTC, the same thing happened with Maddoff, the regulators knew everything and did nothing because Berni was one of them.